Suppose you work for a smoothie shop and you want to assess whether the average transaction value at your shop is different from the competing smoothie shop on the other block. To do so, you randomly sample 19 of your shop's transactions and record a sample average of $9.75 and sample standard deviation of $3.50. You then collect data on 15 randomly selected transactions from the competing smoothie shop. This sample has a mean of $11.00 and a standard deviation of $4.70. What is the null hypothesis for the test of whether there is a difference between your shop's average transaction value versus the average transaction value of the competing smoothie shop?
Suppose you work for a smoothie shop and you want to assess whether the average transaction value at your shop is different from the competing smoothie shop on the other block. To do so, you randomly sample 19 of your shop's transactions and record a sample average of $9.75 and sample standard deviation of $3.50. You then collect data on 15 randomly selected transactions from the competing smoothie shop. This sample has a mean of $11.00 and a standard deviation of $4.70. What is the null hypothesis for the test of whether there is a difference between your shop's average transaction value versus the average transaction value of the competing smoothie shop?
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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Transcribed Image Text:Suppose you work for a smoothie shop and you want to assess whether the average transaction
value at your shop is different from the competing smoothie shop on the other block. To do so,
you randomly sample 19 of your shop's transactions and record a sample average of $9.75 and
sample standard deviation of $3.50. You then collect data on 15 randomly selected transactions
from the competing smoothie shop. This sample has a mean of $11.00 and a standard deviation of
$4.70.
What is the null hypothesis for the test of whether there is a difference between your shop's
average transaction value versus the average transaction value of the competing smoothie shop?
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