Explain how information can be used by decision makers

Reference no: EM13118270

"Business Statistics for Contemporary Decision-Making", 6th edition - Chapter 10 case study (Seitz Corporation) Discussion 1. Seitz's list of several hundred business-to-business customers continues to grow. Managers would like to know whether the average dollar amount of sales per transaction per customer has changed from last year to this year. Suppose company accountants sampled 20 customers randomly from last year's records and determined that the mean sales per customer was $2,300, with a standard deviation of $500. They sampled 25 customers randomly from this year's files and determined that the mean sales per customer for this sample was $2,450, with a standard deviation of $540. Analyze these data and summarize your findings for managers. Explain how information can be used by decision makers. Assume that sales per customer are normally distributed.

Reference no: EM13118270

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