Economic topic. Solve it A radio shop sells, on an average, 200 radios per day with a standard deviation of 50 radios After an extensive advertising campaign, the management will compute the average sales for the next 25 days to see whether an improvement has occurred. Assume that the daily sales of radios is normally distributed: (i) Write down the null and the alternative hypotheses. (ii) Test the hypothesis at 5% level of significance if X = 216. %3D (iii) How large must Xbe in order that the null hypothesis is rejected at 5% level of significance.

Economic topic. Solve it A radio shop sells, on an average, 200 radios per day with a standard deviation of 50 radios After an extensive advertising campaign, the management will compute the average sales for the next 25 days to see whether an improvement has occurred. Assume that the daily sales of radios is normally distributed: (i) Write down the null and the alternative hypotheses. (ii) Test the hypothesis at 5% level of significance if X = 216. %3D (iii) How large must Xbe in order that the null hypothesis is rejected at 5% level of significance.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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