Your company wants to improve sales. Past sales data indicate that the average sale was €100 per transaction. After training your salesforce, recent sales data (taken from a sample of 25 salespeople) indicates an average sale of €130, with a standard deviation of €15. Did the training work to improve sales in the population? Test your hypothesis at a 5% alpha level.Is this a two-tailed test or a one-tailed test? Why?Answer: State the Null Hypothesis Answer: State the Alternative Hypothesis Answer: State the critical value(s) (make sure you are reading from the correct row-column combo on the T table)Answer: Calculate the t-test statistic or value (show your workings)Answer: Based on your answers to questions 18 & 19 are you rejecting or accepting the Null Hypothesis?Answer: What is the meaning of this in terms of the proplem posed?Answer:

From the given information we want to conduct one sample t test Sample mean = 130 sample standard…

Answered: Your company wants to improve sales.…

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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Your company wants to improve sales. Past sales data indicate that the average sale was €100 per transaction. After training your salesforce, recent sales data (taken from a sample of 25 salespeople) indicates an average sale of €130, with a standard deviation of €15. Did the training work to improve sales in the population? Test your hypothesis at a 5% alpha level.

Is this a two-tailed test or a one-tailed test? Why?

Answer:

State the Null Hypothesis

Answer:

State the Alternative Hypothesis

Answer:

State the critical value(s) (make sure you are reading from the correct row-column combo on the T table)

Answer:

Calculate the t-test statistic or value (show your workings)

Answer:

Based on your answers to questions 18 & 19 are you rejecting or accepting the Null Hypothesis?

Answer:

What is the meaning of this in terms of the proplem posed?

Answer:

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 + ...

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