Management of a major company has made the following assumptions regarding their consumer profile. Over 60% of all shoppers are women Less than 40% of our customer primarily make purchases through online resources I The average age of the purchasers of product B is below 45 years. The average weekly purchase of the top selling product A exceeds $50. The company hired market researchers to determine the validity of their consumers' demographic assumptions. The researchers conducted survey and focus groups to evaluate the purchasing pattern of the company's current consumers. In a survey of 400 consumers, 252 respondents were women and 148respondents indicated they purchase the company's products online. The average age of the respondents was 44 years with standard deviation of 10 years. The average weekly purchase of top selling products A and B by the respondents were $52 with standard deviation of $10.5 and $60 with standard deviation of $22.0 respectively. Determine which of the management's demographic assumption is supported by the survey and focus group data. Use 95% level of confidence (0.05 level of significance) to assess the management's claims. (20 points). Enter "Y" in the response text box if the data supports the claim, enter “N" if the data does not support the claim, and enter “U" if there is not enough information available from the survey data to assess the claim. Management Claim: Over 60% of all shoppers are women

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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Determine which of the management's demographic assumption is supported by the survey and focus group data. Use 95% level of confidence (0.05 level of
significance) to assess the management's claims. (20 points).
Enter "Y" in the response text þox if the data supports the claim, enter "N" if the data does not support the claim, and enter “U" if there is not
enough information available from the survey data to assess the claim.
. Management Claim: Over 60% of all shoppers are women
Your answer (Y/N/U) is:
Management Claim: Less than 40% of our customer make product purchase through online resources
Your answer (Y/N/U) is:
1. Management Claim: The average age of purchasers of product B is 40 years
Your answer (Y/N/U) is:
Management Claim: The average weekly purchase of product A by the shoppers exceed $50
Your answer (Y/N/U) is:

Transcribed Image Text:Management of a major company has made the following assumptions regarding their consumer profile. Over 60% of all shoppers are women Less than 40% of our customer primarily make purchases through online resources The average age of the purchasers of product B is below 45 years. The average weekly purchase of the top selling product A exceeds $50. The company hired market researchers to determine the validity of their consumers' demographic assumptions. The researchers conducted survey and focus groups to evaluate the purchasing pattern of the company's current consumers. In a survey of 400 consumers, 252 respondents were women and 148yrespondents indicated they purchase the company's products online. The average age of the respondents was 44 years with standard deviation of 10 years. The average weekly purchase of top selling products A and B by the respondents were $52 with standard deviation of $10.5 and $60 with standard deviation of $22.0 respectively. Determine which of the management's demographic assumption is supported by the survey and focus group data. Use 95% level of confidence (0.05 level of significance) to assess the management's claims. (20 points). Enter "Y" in the response text box if the data supports the claim, enter “N" if the data does not support the claim, and enter “U" if there is not enough information available from the survey data to assess the claim. Management Claim: Over 60% of all shoppers are women

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