**Understanding Market Share Changes in Cities** When analyzing market trends, it's common to examine how market share varies across different regions. In this dataset, we're asked to find the mean of the percent change in market share for control cities over a certain period. **Table: Percent Change in Average Market Share per Month** | Type | City Number | Percent Change | |-------------|-------------|----------------| | Test cities | 1 | +1% | | | 2 | +1% | | | 3 | +14% | | | 4 | +4% | | Control cities | 1 | +6% | | | 2 | -7% | | | 3 | -8% | | | 4 | 0% | **Task: Calculate the Mean for Control Cities** To find the mean percent change for the control cities, calculate the average of the percentages: 1. Add all the percent changes for control cities: \[ (+6) + (-7) + (-8) + 0 = -9 \] 2. Divide by the number of control cities: \[ \frac{-9}{4} = -2.25 \] **Result:** The mean of the percent change in market share for the control cities is **-2.25%**. Please enter your answer in the provided answer box as an integer or a decimal.
**Understanding Market Share Changes in Cities** When analyzing market trends, it's common to examine how market share varies across different regions. In this dataset, we're asked to find the mean of the percent change in market share for control cities over a certain period. **Table: Percent Change in Average Market Share per Month** | Type | City Number | Percent Change | |-------------|-------------|----------------| | Test cities | 1 | +1% | | | 2 | +1% | | | 3 | +14% | | | 4 | +4% | | Control cities | 1 | +6% | | | 2 | -7% | | | 3 | -8% | | | 4 | 0% | **Task: Calculate the Mean for Control Cities** To find the mean percent change for the control cities, calculate the average of the percentages: 1. Add all the percent changes for control cities: \[ (+6) + (-7) + (-8) + 0 = -9 \] 2. Divide by the number of control cities: \[ \frac{-9}{4} = -2.25 \] **Result:** The mean of the percent change in market share for the control cities is **-2.25%**. Please enter your answer in the provided answer box as an integer or a decimal.
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
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Question
![**Understanding Market Share Changes in Cities**
When analyzing market trends, it's common to examine how market share varies across different regions. In this dataset, we're asked to find the mean of the percent change in market share for control cities over a certain period.
**Table: Percent Change in Average Market Share per Month**
| Type | City Number | Percent Change |
|-------------|-------------|----------------|
| Test cities | 1 | +1% |
| | 2 | +1% |
| | 3 | +14% |
| | 4 | +4% |
| Control cities | 1 | +6% |
| | 2 | -7% |
| | 3 | -8% |
| | 4 | 0% |
**Task: Calculate the Mean for Control Cities**
To find the mean percent change for the control cities, calculate the average of the percentages:
1. Add all the percent changes for control cities:
\[
(+6) + (-7) + (-8) + 0 = -9
\]
2. Divide by the number of control cities:
\[
\frac{-9}{4} = -2.25
\]
**Result:**
The mean of the percent change in market share for the control cities is **-2.25%**.
Please enter your answer in the provided answer box as an integer or a decimal.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5b94b20b-b5c6-4187-a980-d088872702e5%2F19e0b84a-a476-4089-9ae9-cee302d3f665%2F06jdcdj.jpeg&w=3840&q=75)
Transcribed Image Text:**Understanding Market Share Changes in Cities**
When analyzing market trends, it's common to examine how market share varies across different regions. In this dataset, we're asked to find the mean of the percent change in market share for control cities over a certain period.
**Table: Percent Change in Average Market Share per Month**
| Type | City Number | Percent Change |
|-------------|-------------|----------------|
| Test cities | 1 | +1% |
| | 2 | +1% |
| | 3 | +14% |
| | 4 | +4% |
| Control cities | 1 | +6% |
| | 2 | -7% |
| | 3 | -8% |
| | 4 | 0% |
**Task: Calculate the Mean for Control Cities**
To find the mean percent change for the control cities, calculate the average of the percentages:
1. Add all the percent changes for control cities:
\[
(+6) + (-7) + (-8) + 0 = -9
\]
2. Divide by the number of control cities:
\[
\frac{-9}{4} = -2.25
\]
**Result:**
The mean of the percent change in market share for the control cities is **-2.25%**.
Please enter your answer in the provided answer box as an integer or a decimal.
Expert Solution
Step 1
Given,
| Control Cities | Percent change |
| 1 | +6 |
| 2 | -7 |
| 3 | -8 |
| 4 | 0 |
Let X be the Percent change in market share for control cities.
Step by step
Solved in 2 steps
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