Answered: In a sales pitch TriCon, a strategic…

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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Question

In a sales pitch TriCon, a strategic security company, claims they have been able to decrease the sales lost to theft in their previous clients by any average of 3%. A sample of quarterly lost sales reports of other companies before and after hiring TriCon is provided below (also available for download here Sales.xlsx). Given σ_BEFORE = 2.23 and σ_AFTER = 1.89, at a 5% level of significance can you conclude that, for other companies, hiring TriCon has lead to a reduction in lost sales? YOU CAN ASSUME THE POPULATION TO BE NORMALLY DISTRIBUTED.

Quarterly lost sales ($1,000s)
Before TriCon Plan	After TriCon Plan
5.25	5.1
5.83	3.35
6.14	6.97
5.36	6.39
4.7	6.78
4.86	3.55
5.45	3.32
5.32	6.48
7.76	6.34
6.15	6.34
7.73	3.67
7.78	4.23
7.52	6.11
5.73	4.5
7.36	5.16
7.91	4.41
6.85	4.04
7.02	6.42
7.14	6.01
5.98	3.49
5.09	5.54
5.68
7.7
5.02
4.14
4.29

b) p-value:

c) Conclusion:

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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