The per-store daily customer count (i.e., the mean number of customers in a store in one day)
Question:
a. State the null and alternative hypotheses.
b. Explain the meaning of the Type I and Type II errors in the context of this scenario.
c. At the 0.01 level of significance, is there evidence that reducing coffee prices is a good strategy for increasing the mean customer count?
d. Interpret the meaning of the p-value in (c).
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Related Book For
Basic Business Statistics Concepts And Applications
ISBN: 9780132168380
12th Edition
Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel
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