Hypothesis testing at significance level

Assignment Help Basic Statistics

Reference no: EM1313285

The manufacturer of an MP3 player wanted to know whether a 10 percent reduction in price is enough to increase the sales of their product. To investigate, the owner randomly selected eight outlets and sold the MP3 player at the reduced price. At seven randomly selected outlets, the MP3 player was sold at the regular price. Reported below is the number of units sold last month at the sampled outlets.

Regular price	138	121	88	115	141	125	96
Reduced price	128	134	152	$135	114	106	112	120

At the .01 significance level, can the manufacturer conclude that the price reduction resulted in an increase in sales?

Reference no: EM1313285

Questions Cloud

When the economy is at the point of full employment : When the Economy is at the point of Full Employment, is the Unemployment Rate zero percent.

Explain the term capital budgeting : Explain the term Capital budgeting in concern to Ettenheim Village is considering building a town swimming pool

How much thermal energy is created : A person who weighs 68 kg steps onto a spring scale in the bathroom, and spring compresses by 0.79cm. (a) what is the spring constant? (b) What is the weight of another person who compresses the spring by 0.34cm.

Determining risk of developing type 2 diabetes : Describe the most suitable measure of incidence of diabetes in this scenario? Find the risk (ie measure of Incidence identified in part c) of developing type 2 diabetes among females in this community.

Hypothesis testing at significance level : At the .01 significance level, can the manufacturer conclude that the price reduction resulted in an increase in sales?

Amortization of discount on issue of debentures : Amortization of discount on issue of debentures - Carson uses the sum-of-the-years-digits method of depreciation. What should the accumulated depreciation be at 31st December, 2008

What is the speed of the block : A car of mass 1800 travelling at 60.7 enters a banked turn covered with ice. The road is banked at an angle, and there is no friction between the road and the car's tires. Use = 9.80 throughout the problem.

What is the average force on the projectile : A polar bear of mass 436 kg stands on an ice floe 58.10 cm thick. What is the minimum area of floe that will just support the bear in saltwater of density of 1030 kg/m3? The specific gravity of ice is 0.88.

Acceleration of the moving point : A point moves along the x-axis with its position, x, at time t given by x(t) = t3 - 3t2 + 2t - 1. Which of the following is the acceleration when t = 2?

User Account

All Pages