An entrepreneur examines monthly sales (in $1,000s) for 40 convenience stores in Rhode Island. Access the convenience

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An entrepreneur examines monthly sales (in $1,000s) for 40 convenience stores in Rhode Island. Access the convenience store sales data on the text website (Convenience_Stores).

a. State the null and the alternative hypotheses in order to test whether average sales differ from $130,000.

b. Use Excel to calculate the value of the test statistic and the exact p-value.

c. At α = 0.05 what is your conclusion to the test? Do average sales differ from $130,000?

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Essentials Of Business Statistics Communicating With Numbers

ISBN: 9780078020544

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Authors: Sanjiv Jaggia, Alison Kelly

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Question Posted: Jan 28, 2015 10:16 AM

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An entrepreneur examines monthly sales (in $1,000s) for 40 convenience stores in Rhode Island. Access the convenience

Question:

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a H 0 130 H A 130 b df 39 t 39 We use Excel to find the ...View the full answer

Essentials Of Business Statistics Communicating With Numbers

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