Sure Value Convenience StoresYou work in the corporate office for a nationwide conveniencestore franchise that operates nearly 10,000 stores. The per-storedaily customer count (i.e., the mean number of customers ina store in one day) has been steady, at 900, for some time. Toincrease the customer count, the chain is considering cuttingprices for coffee beverages. The question to be determined ishow much to cut prices to increase the daily customer countwithout reducing the gross margin on coffee sales too much. You decide to carry out an experiment in a sample of 24 storeswhere customer counts have been running almost exactly at thenational average of 900. In 6 of the stores, the price of a smallcoffee will now be $0.59, in 6 stores the price of a small coffeewill now be $0.69, in 6 stores, the price of a small coffee willnow be $0.79, and in 6 stores, the price of a small coffee willnow be $0.89. After four weeks of selling the coffee at the newprice, the daily customer counts in the stores were recorded andstored in CoffeeSales.1. Analyze the data and determine whether there is evidence ofa difference in the daily customer count, based on the priceof a small coffee.2. If appropriate, determine which mean prices differ in dailycustomer counts.3. What price do you recommend for a small coffee?

Please find the step by step solution below. Thank you.

Answered: You decide to carry out an experiment…

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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