Question: Problem 2 [2pts] The Excel file Sales.xls attached to this assignment provides data on a sample of customers. Consider the variable PROFIT in the Excel
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Problem 2 [2pts] The Excel file Sales.xls attached to this assignment provides data on a sample of customers. Consider the variable \"PROFIT\" in the Excel dataset. An industry Irade publication stated that the average profit per customer for this industry was $4500. Using both test of hypothesis and a confidence interval approach, can this company claim that they are exceeding the standard? For the significance testing, you should specify the test hypotheses, the test statistic and p-value,. For the confidence interval, write down the computed confidence interval for the average profit per customer. Use both I and t- distribution for each approach. Are your results similar? Explain. (Use SPSS to compute when needed. Copy relevant tables to your word document)
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