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Your company has entered a new area, which is demographically similar to the area where you do business. The mean for sales each day in
Your company has entered a new area, which is demographically similar to the area where you do business. The mean for sales each day in your current areas is $2000. You randomly selected 25 daily sales in the new area. The sample mean for this group is $2100 with a standard deviation of $250. At = 0.05.
a. Test to see if the average sale in the new area is different than the average sale in the current area.
b. One of the directors is concerned that the sales in this new area may be higher. Test if the concern is valid
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