Using this information to conduct a hypothesis test to investigate if introducing a loyalty program will increase the average monthly sales of customers in your store. Use the order loyalty program — µno loyalty program in your hypothesis test. What is the standard error of the difference between sample averages in your analysis?
Using this information to conduct a hypothesis test to investigate if introducing a loyalty program will increase the average monthly sales of customers in your store. Use the order loyalty program — µno loyalty program in your hypothesis test. What is the standard error of the difference between sample averages in your analysis?
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 as a manager for a large clothing store. You are considering
introducing a loyalty program to encourage customers to spend more at your store.
Before rolling out your program to the public, you want to do a small experiment to
estimate its effectiveness. You offer the loyalty program to 30 random customers,
and also observed the sales of 29 random customers who did not get the program as
a control group. The customers that were part of the loyalty program had average
monthly sales of $304.80 and a sample standard deviation of $47.76. For the control
group, the customers had an average monthly sales of $232.90 and a sample
standard deviation of $69.30.
Using this information to conduct a hypothesis test to investigate if introducing a
loyalty program will increase the average monthly sales of customers in your store.
Use the order loyalty program no loyalty program in your hypothesis test.
What is the standard error of the difference between sample averages in your
analysis?
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