Answered: The owner of a chain of mini-markets…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

100%

The owner of a chain of mini-markets wants to compare the sales performance of two of her stores, Store 1 and Store 2. Sales can vary considerably depending on the day of the week and the season of the year, so she decides to eliminate such effects by making sure to record each store's sales on the same sample of days. After choosing a random sample of 10 days, she records the sales (in dollars) for each store on these days, as shown in the table below.

Based on these data, can the owner conclude, at the 0.10 level of significance, that the mean daily sales of the two stores differ? Answer this question by performing a hypothesis test regarding μd (which is μ with a letter "d" subscript), the population mean daily sales difference between the two stores. Assume that this population of differences (Store 1 minus Store 2) is normally distributed.

Perform a two-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places and round your answers as specified. (If necessary, consult a list of formulas.)

(a) State the null hypothesis H and the alternative hypothesis H .
1'
H, :0
H :0
(b) Determine the type of test statistic to use.
Type of test statistic: (Choose one) ▼
(c) Find the value of the test statistic. (Round to three or more decimal places.)
(d) Find the two critical values at the 0.10 level of significance. (Round to three or more decimal places.)
D and
(e) At the 0.10 level, can the owner conclude that the mean daily sales of the two stores differ?
O Yes ONo

Difference
Day Store 1 Store 2
(Store 1 - Store 2)
1
596
630
-34
2
827
686
141
576
477
99
4
414
354
60
5
938
703
235
309
372
- 63
7
946
586
360
8
812
499
313
9
623
495
128
10
560
407
153
3.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Chi-squared Tests$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions