You are the VP, Advertising for "Yo' Mama" brand, a fashion label that caters to the young, trendy crowd with an urban, hip-hop image. While your customer base has traditionally been largely African-American, you have recognized a tremendous influx of Hispanic consumers into your market. You are preparing for next week's annual budget meetings and you have decided to make one of the following recommendations regarding next year's advertising campaign, depending on your statistical analysis of sales data (given below) from a probability sample of typical stores: (1) maintain the current African-American-focused campaign if average monthly per store sales to African-American customers are higher than the average monthly per store sales to Hispanic customers; (2) move to an Hispanic-focused ad campaign if the average monthly per store sales to Hispanic customers are higher than the average monthly per store sales to African-American customers; or (3) introduce a "balanced" campaign that seeks an equal ethnic mixture if average monthly per store sales are statistically the same. Using an alpha of .025 and the 5-step hypothesis testing process, what will you recommend?
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
You are the VP, Advertising for "Yo' Mama" brand, a fashion label that caters to the young, trendy crowd with an urban, hip-hop image. While your customer base has traditionally been largely African-American, you have recognized a tremendous influx of Hispanic consumers into your market. You are preparing for next week's annual budget meetings and you have decided to make one of the following recommendations regarding next year's advertising campaign, depending on your statistical analysis of sales data (given below) from a probability sample of typical stores: (1) maintain the current African-American-focused campaign if average monthly per store sales to African-American customers are higher than the average monthly per store sales to Hispanic customers; (2) move to an Hispanic-focused ad campaign if the average monthly per store sales to Hispanic customers are higher than the average monthly per store sales to African-American customers; or (3) introduce a "balanced" campaign that seeks an equal ethnic mixture if average monthly per store sales are statistically the same. Using an alpha of .025 and the 5-step hypothesis testing process, what will you recommend? Hint: Think about how many data points you have.
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