Question: Average total daily sales at a small food store are
Average total daily sales at a small food store are known to be $452.80. The store's management recently implemented some changes in displays of goods, order within aisles, and other changes, and it now wants to know whether average sales volume has changed. A random sample of 12 days shows x-bar = $501.90 and s = $65.00. Using α = 0.05, is the sampling result significant? Explain.
Answer to relevant QuestionsNew software companies that create programs for World Wide Web applications believe that average staff age at these companies is 27. To test this two-tailed hypothesis, a random sample is collected: 41, 18, 25, 36, 26, 35, ...Suppose that the Goodyear Tire Company has historically held 42% of the market for automobile tires in the United States. Recent changes in company operations, especially its diversification to other areas of business, as ...According to Money, the average amount of money that a typical person in the United States would need to make him or her feel rich is $1.5 million. A researcher wants to test this claim. A random sample of 100 people in the ...An article in Active Trader claims that using the Adaptive Renko trading system seems to give a 75% chance of beating the market. Suppose that in a random simulation of 100 trades using this system, the trading rule beat the ...According to BusinessWeek, the Standard & Poor's 500 Index posted an average gain of 13% for 2006.12 If a random sample of 50 stocks from this index reveals an average gain of 11% and standard deviation of 6%, can you reject ...
Post your question