A store manager wants to increase their average sale per ticket. They do this by doing a lottery where with each ticket bought they give away a small gift. The store manager then compares the number of sales from before the lottery was used and the sales after the lottery was used. In Excel, create a 99% confidence interval for the change in the ticket average of before verse after the use of the lottery. Find a 99% confidence interval for average difference in sale per ticket. Write a sentence interpreting your results in context of this question. Should the lottery continue the sale? Data given Before During $ 42.42 $ 44.18 $ 30.01 $ 47.30 $ 38.72 $ 43.60 $ 31.42 $ 55.05 $ 31.55 $ 39.44 $ 25.99 $ 44.21 $ 36.25 $ 40.38 $ 34.89 $ 43.88 $ 34.47 $ 42.02 $ 33.29 $ 37.65 $ 33.65 $ 42.37 $ 35.00 $ 38.79 $ 31.99 $ 36.00 $ 28.65 $ 46.13 $ 36.75 $ 37.75 $ 38.50 $ 47.21 $ 33.95 $ 33.95 $ 34.00 $ 47.25 $ 38.78 $ 46.08 $ 32.59 $ 39.75 $ 30.90 $ 38.64 $ 39.15 $ 45.25 $ 37.59 $ 38.45 $ 39.75 $ 44.81 $ 38.95 $ 36.41 $ 39.87 $ 39.00 $ 39.95 $ 42.38 $ 34.75 $ 42.68 $ 31.08 $ 40.60 $ 41.30 $ 42.00 $ 43.97 $ 47.73 $ 42.67 $ 43.05 $ 35.48 $ 34.53 $ 36.85 $ 33.33 Data analysis gives us Before During Mean 35.63861 Mean 42.31219 Standard Error 0.69391 Standard Error 0.765291 Median 34.945 Median 42.375 Mode #N/A Mode #N/A Standard Deviation 4.163463 Standard Deviation 4.32914 Sample Variance 17.33442 Sample Variance 18.74145 Kurtosis -0.35768 Kurtosis 1.027754 Skewness -0.02821 Skewness 0.54263 Range 17.98 Range 21.1 Minimum 25.99 Minimum 33.95 Maximum 43.97 Maximum 55.05 Sum 1282.99 Sum 1353.99 Count 36 Count 32 Confidence Level(99.0%) 1.890077 Confidence Level(99.0%) 2.099991

A store manager wants to increase their average sale per ticket. They do this by doing a lottery where with each ticket bought they give away a small gift. The store manager then compares the number of sales from before the lottery was used and the sales after the lottery was used. In Excel, create a 99% confidence interval for the change in the ticket average of before verse after the use of the lottery. Find a 99% confidence interval for average difference in sale per ticket. Write a sentence interpreting your results in context of this question. Should the lottery continue the sale? Data given Before During $ 42.42 $ 44.18 $ 30.01 $ 47.30 $ 38.72 $ 43.60 $ 31.42 $ 55.05 $ 31.55 $ 39.44 $ 25.99 $ 44.21 $ 36.25 $ 40.38 $ 34.89 $ 43.88 $ 34.47 $ 42.02 $ 33.29 $ 37.65 $ 33.65 $ 42.37 $ 35.00 $ 38.79 $ 31.99 $ 36.00 $ 28.65 $ 46.13 $ 36.75 $ 37.75 $ 38.50 $ 47.21 $ 33.95 $ 33.95 $ 34.00 $ 47.25 $ 38.78 $ 46.08 $ 32.59 $ 39.75 $ 30.90 $ 38.64 $ 39.15 $ 45.25 $ 37.59 $ 38.45 $ 39.75 $ 44.81 $ 38.95 $ 36.41 $ 39.87 $ 39.00 $ 39.95 $ 42.38 $ 34.75 $ 42.68 $ 31.08 $ 40.60 $ 41.30 $ 42.00 $ 43.97 $ 47.73 $ 42.67 $ 43.05 $ 35.48 $ 34.53 $ 36.85 $ 33.33 Data analysis gives us Before During Mean 35.63861 Mean 42.31219 Standard Error 0.69391 Standard Error 0.765291 Median 34.945 Median 42.375 Mode #N/A Mode #N/A Standard Deviation 4.163463 Standard Deviation 4.32914 Sample Variance 17.33442 Sample Variance 18.74145 Kurtosis -0.35768 Kurtosis 1.027754 Skewness -0.02821 Skewness 0.54263 Range 17.98 Range 21.1 Minimum 25.99 Minimum 33.95 Maximum 43.97 Maximum 55.05 Sum 1282.99 Sum 1353.99 Count 36 Count 32 Confidence Level(99.0%) 1.890077 Confidence Level(99.0%) 2.099991

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Description: A store manager wants to increase their average sale per ticket. They do this by doing a lottery where with each ticket bought they give away a small gift. The store manager then compares the number of sales from before the lottery was used and the s

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Find a 99% confidence interval for average difference in sale per ticket.
Write a sentence interpreting your results in context of this question.
Should the lottery continue the sale?

Data given
Before	During
$ 42.42	$ 44.18
$ 30.01	$ 47.30
$ 38.72	$ 43.60
$ 31.42	$ 55.05
$ 31.55	$ 39.44
$ 25.99	$ 44.21
$ 36.25	$ 40.38
$ 34.89	$ 43.88
$ 34.47	$ 42.02
$ 33.29	$ 37.65
$ 33.65	$ 42.37
$ 35.00	$ 38.79
$ 31.99	$ 36.00
$ 28.65	$ 46.13
$ 36.75	$ 37.75
$ 38.50	$ 47.21
$ 33.95	$ 33.95
$ 34.00	$ 47.25
$ 38.78	$ 46.08
$ 32.59	$ 39.75
$ 30.90	$ 38.64
$ 39.15	$ 45.25
$ 37.59	$ 38.45
$ 39.75	$ 44.81
$ 38.95	$ 36.41
$ 39.87	$ 39.00
$ 39.95	$ 42.38
$ 34.75	$ 42.68
$ 31.08	$ 40.60
$ 41.30	$ 42.00
$ 43.97	$ 47.73
$ 42.67	$ 43.05
$ 35.48
$ 34.53
$ 36.85
$ 33.33

Data analysis gives us


Before		During

Mean	35.63861	Mean	42.31219
Standard Error	0.69391	Standard Error	0.765291
Median	34.945	Median	42.375
Mode	#N/A	Mode	#N/A
Standard Deviation	4.163463	Standard Deviation	4.32914
Sample Variance	17.33442	Sample Variance	18.74145
Kurtosis	-0.35768	Kurtosis	1.027754
Skewness	-0.02821	Skewness	0.54263
Range	17.98	Range	21.1
Minimum	25.99	Minimum	33.95
Maximum	43.97	Maximum	55.05
Sum	1282.99	Sum	1353.99
Count	36	Count	32
Confidence Level(99.0%)	1.890077	Confidence Level(99.0%)	2.099991

Definition Definition Measure of central tendency that is the value that occurs most frequently in a data set. A data set may have more than one mode if multiple categories repeat an equal number of times. For example, in a data set with five item—3, 5, 5, 29, 473—the mode is 5 because it occurs twice and no other value occurs more than once. On a histogram or bar chart, the element with the highest bar represents the mode. Therefore, the mode is sometimes considered the most popular option. The mode is useful for nominal or categorical data (e.g., the most common color car that users purchase), but it is problematic for continuous data because it is more likely not to have any value that is more frequent than the other.

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