4. Buyers are often influenced by bulk advertising of a particular product. For example, suppose you have a product that sells for 25 ¢. If it is advertised at 2/50 ¢, 3/75 ¢, or 4/ $1, some people may think they are getting a bargain. To test this theory, a store manager advertised an item for equal periods of time at five different bulk rates and achieved the sales volumes listed in the table. Summary statistics are provided below. x = 3, y = 42.4 Advertised Number in Bulk Sale (r) Volume Sold (y) Σ(x) = 55 Σ(x - 2)² = 10 (y₁ - y)² = 865.2 Σ(x₁ - x)(y₁ - y) = 77 Σ(x₁ - x)(yi) = 77 Σ(xi) (yi) = 713 T = 0.8278 Do the data provide sufficient evidence to indicate that mean sales increase as the number in the bulk increases? Answer each of the following questions. You have to show all your work to get full credit. Simplify final answers and round to 4 decimal places where appropriate. i) State the null and alternative hypotheses. 1 2 3 4 5 27 36 34 63 52 ii) Calculate the test statistic. iii) Find P-value or rejection region. Use a = 0.05. iv) State your conclusion in the context of this problem.