The south African department of health is concerned that the average percentage mark-up on a particular products during the dawn of covid-19 pandemic is 41% or above. To test their concern, they sampled 40 that sell the product, and found that the mean percentage mark-up was 49.1%. Assume that the population deviation of the percentage mark-up is 18.7% and answer the following questions: Formulate the null and alternative hypotheses for this test situation and conduct an appropriate statistical test at the 3.5% level of significance to determine whether the south African department of healths concern is justified. What conclusion can be drawn from the findings?
The south African department of health is concerned that the average percentage mark-up on a particular products during the dawn of covid-19 pandemic is 41% or above. To test their concern, they sampled 40 that sell the product, and found that the mean percentage mark-up was 49.1%. Assume that the population deviation of the percentage mark-up is 18.7% and answer the following questions: Formulate the null and alternative hypotheses for this test situation and conduct an appropriate statistical test at the 3.5% level of significance to determine whether the south African department of healths concern is justified. What conclusion can be drawn from the findings?
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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The south African department of health is concerned that the average percentage mark-up on a particular products during the dawn of covid-19 pandemic is 41% or above. To test their concern, they sampled 40 that sell the product, and found that the mean percentage mark-up was 49.1%. Assume that the population deviation of the percentage mark-up is 18.7% and answer the following questions:
Formulate the null and alternative hypotheses for this test situation and conduct an appropriate statistical test at the 3.5% level of significance to determine whether the south African department of healths concern is justified. What conclusion can be drawn from the findings?
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