Answered: A retailer wants to see if a red "Sale"…

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter3: Solving Equation And Problems

Section3.6: Problem Solving: Using Charts

Problem 2OE

See similar textbooks

Related questions

Question

A retailer wants to see if a red "Sale" sign brings in more revenue than the same "Sale" sign in blue. The data below shows the revenue in thousands of dollars that was achieved for various days when the retailer decided to put the red "Sale" sign up and days when the retailer decided to put the blue "Sale" sign up.

Red: 3.4, 0.9, 4.1, 4.4, 4.5, 3.9, 2.6, 1.9, 3.5

Blue: 3.2, 2.7, 1.3, 1.4, 2.4, 2.5, 2.9, 1.8, 1.9

Assume that both populations follow a normal distribution. What can be concluded at the αα = 0.01 level of significance level of significance?

The test statistic t = (please show your answer to 3 decimal places.)

The p-value = (Please show your answer to 4 decimal places.)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Expert Solution