QUESTION II The fashion brand Luis Buittou's iconic product is its ochre scarf. It has also been selling many of its camel shawls, a variant of the ochre scarf. You are in charge of studying the monthly sales of the ochre scarves and the camel shawl for Luis Buittou in the Boston shops. You collect data points X1, Y1,-, Y for the camel shawls, that represent the number of each product sold each month over the past 10 years. The average number of scarves sold per month is X = Ait = 77. The standard deviation is ox= 12. X3 for the ochre scarves and ... %3D %3D The average mumber of shawls sold per month is Y= =80. The standard deviation is also oy = 12. The marketing analyst saggest switching entirely to the camel shawls as it sells better, even though the switch entails some restructuring cost. %3D %3D . (a) You decide to test the claim "the mean value of camel shawls sold per month is larger than the mean value of ochre scarfs sold per month" at 95% confidence level. How do you go about testing this claim? What is your conclusion? (b) In order to have more trust in your conclusion, your manager asks you to test the same claim at 96%, 97%, 95% and 99% confidence levels. What is your respotse to this suggestion? Let X be the mumber of the scarves sold in one month. X is assumed to follow a normal distribution with menn 77 and standard deviation 12. (c) What is the peobability that X is at least 107.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

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Transcribed Image Text:QUESTION II The fashion brand Luis Buittou's iconic product is its ochre scarf. It has also been selling many of its camel shawls, a variant of the ochre scarf. You are in charge of studying the monthly sales of the ochre scarves and the camel shawl for Luis Buittou in the Boston shops. You collect data points X1, X120 for the ochre scarves and Y1,, Yi for the camel shawls, that represent the number of each product sold each month over the past 10 years. The average mumber of scarves sold per month is X = XitA = 77. The standard deviation is ox = 12. The average mumber of shawls sold per month is Y= tY= 80. The standard deviation is also oy = 12. The marketing analyst suggest switching entirely to the camel shawls as it sells better, even though the switch entails some restructuring cost. L.... %3D 120 Yi++Y %3D 190 %3D (a) You decide to test the claim "the mean value of camel shawls sold per month is larger than the mean value of ochre scarfs sold per month" at 95% confidence level. How do you go about testing this claim? What is your conclusion? (b) In order to have more trust in your conclusion, your manager asks you to test the same claim at 96%, 97%, 98% and 99% confidence levels. What is your response to this suggestion? Let X be the mumber of the scarves sold in one month. X is assumed to follow a normal distribution with mean 77 and standard deviation 12. (c) What is the probability that X is at least 107. (d) Choose all the true statements. No justification needed. (d.1) Pr[X > 8oj = Pr[X < -80. (d.2) Pr[X >74 = Pr[X < 80. (d.3) PrX > 77) =0.5. Let Y be the mumber of camel shawls sold in a month, also normally distributed. It has a standard deviation equals to 12, but its mean is not known. (e) It is known that the probability that Y is greater than 52 is 0.9901. Compute the mean of Y.

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