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n May 2008, CNN reported that Sports Utility Vehicles (SUVs) are plunging toward the "endangered list". Due to soaring oil prices and environmental concerns, consumers are replacing gas-guzzling vehicles with fuel-efficientsmaller cars. As a result, there has been a big drop in the demand for new as well as used SUVs. A sales manager of a used car dealership for SUVs believes that it takes more than 90 days, on average, to sell an sUV. In order to test his claim, he samples 40 recently sold SUVs and find that it took an average of 95 days to sell an SUV. He believes that the population standard deviation is fairly stable at 20 days. Determine if the sales manager's claim is justifiable at 0.05

n May 2008, CNN reported that Sports Utility Vehicles (SUVs) are plunging toward the "endangered list". Due to soaring oil prices and environmental concerns, consumers are replacing gas-guzzling vehicles with fuel-efficientsmaller cars. As a result, there has been a big drop in the demand for new as well as used SUVs. A sales manager of a used car dealership for SUVs believes that it takes more than 90 days, on average, to sell an sUV. In order to test his claim, he samples 40 recently sold SUVs and find that it took an average of 95 days to sell an SUV. He believes that the population standard deviation is fairly stable at 20 days. Determine if the sales manager's claim is justifiable at 0.05

MATLAB: An Introduction with Applications
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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In May 2008, CNN reported that Sports Utility Vehicles (SUVs) are plunging toward the "endangered list". Due to soaring oil prices and environmental concerns, consumers are replacing gas-guzzling vehicles with fuel-efficientsmaller cars. As a result, there has been a big drop in the demand for new as well as used SUVs. A sales manager of a used car dealership for SUVs believes that it takes more than 90 days, on average, to sell an sUV. In order to test his claim, he samples 40 recently sold SUVs and find that it took an average of 95 days to sell an SUV. He believes that the population standard deviation is fairly stable at 20 days. Determine if the sales manager's claim is justifiable at 0.05
Many small companies buy advertising without considering its effect. The marketing manager is trying to make the case that "you have to spend money to make money." Spending on billboard advertisements, in the manager's opinion, has a direct effect on sales. These are records for 7 months in 1000s: Monthly expenditure on 25 16 42 34 10 21 19 billboards Monthly sales Develop a regression estimating equation. If the monthly expenditure on billboards is 20,000/- what is the monthly sale generated 34 14 48 32 26 29 20
Transcribed Image Text:Many small companies buy advertising without considering its effect. The marketing manager is trying to make the case that "you have to spend money to make money." Spending on billboard advertisements, in the manager's opinion, has a direct effect on sales. These are records for 7 months in 1000s: Monthly expenditure on 25 16 42 34 10 21 19 billboards Monthly sales Develop a regression estimating equation. If the monthly expenditure on billboards is 20,000/- what is the monthly sale generated 34 14 48 32 26 29 20
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