**Problem Statement:**A market research firm supplies manufacturers with estimates of the retail sales of their products from samples of retail stores. Marketing managers are prone to look at the estimate and ignore sampling error. An SRS (Simple Random Sample) of 17 stores this year shows mean sales of 70 units of a small appliance, with a standard deviation of 13.6 units. During the same point in time last year, an SRS of 22 stores had mean sales of 55.176 units, with a standard deviation of 5.4 units. An increase from 55.176 to 70 is a rise of about 21%.1. **Construct a 99% confidence interval estimate of the difference $ \mu_1 - \mu_2 $ , where $ \mu_1 $ is the mean of this year's sales and $ \mu_2 $ is the mean of last year's sales.** (a) \[ \_ < (\mu_1 - \mu_2) < \_ \] (b) The margin of error is \[ \_ \] .2. **At a 0.01 significance level, is there sufficient evidence to show that sales this year are different from last year?** - ☐ A. Yes - ☐ B. No

Given This year sales n1=17 x¯1=70 s1=13.6 and Last year sales n2=22…

Answered: t) A market research firm supplies…

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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