The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is enough to increase the sales of its product. To investigate, the owner randomly selected eight outlets and sold the MP3 player at the reduced price. At seven randomly selected outlets, the MP3 player was sold at the regular price. Reported below is the number of units sold last month at the regular and reduced prices at the randomly selected outlets.Regular price1311248911311412594 Reduced price125132111107115124136132 At the 0.050 significance level, can the manufacturer conclude that the price reduction resulted in an increase in sales? Hint: For the calculations, assume reduced price as the first sample. Compute the pooled estimate of the variance. (Round your answer to 3 decimal places.)Compute the test statistic. (Round your answer to 2 decimal places.)State your decision about the null hypothesis. multiple choiceFail to reject H0Reject H0

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Description: The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is enough to increase the sales of its product. To investigate, the owner randomly selected eight outlets and sold the MP3 player at the reduced price. At seven randoml

From the given information, The data can be represents as: Regular price =X Reduced price =Y…

Answered: he manufacturer of an MP3 player wanted…

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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The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is enough to increase the sales of its product. To investigate, the owner randomly selected eight outlets and sold the MP3 player at the reduced price. At seven randomly selected outlets, the MP3 player was sold at the regular price. Reported below is the number of units sold last month at the regular and reduced prices at the randomly selected outlets.

Regular price	131	124	89	113	114	125	94
Reduced price	125	132	111	107	115	124	136	132

At the 0.050 significance level, can the manufacturer conclude that the price reduction resulted in an increase in sales? Hint: For the calculations, assume reduced price as the first sample.

Compute the pooled estimate of the variance. (Round your answer to 3 decimal places.)
Compute the test statistic. (Round your answer to 2 decimal places.)
State your decision about the null hypothesis. multiple choice

Fail to reject H₀
Reject H₀

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