Population mean customer count has increase

Reference no: EM13295368

The per-store daily customer count for a nationwide convenience store chain that operates nearly 10,000 stores has held steady at 900 for some time. To increase the customer count, the chain is considering cutting prices for coffee by half. To test the new initiative the chain has reduced coffee prices in a sample of 34 stores, where the customer count has been running at almost exactly the national average of 900. After the price reduction the sample mean customer count is 974 and the sample standard deviation is 96. Is there evidence at the .01 level of significance that the population mean customer count has increase?

Reference no: EM13295368

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