4. Let’s consider a company’s growth rate of sales.YearAnnual Growth Rate (%)19936.8019946.1019955.6019965.4019974.9019984.5019994.2020004.0020014.8020025.8020036.2020045.5020055.0020066.101)Find the sample mean and sample standard deviation using Minitab using descriptive statistics.2)The store manager found that the average growth rate in 80s was 6.00%. Using the data, proveif the average growth rate for the sample period was same as that of 80s.3)Prove if the average growth rate was less than 6

Question
Asked Nov 9, 2019
4. Let’s consider a company’s growth rate of sales.
Year
Annual Growth Rate (%)
1993
6.80
1994
6.10
1995
5.60
1996
5.40
1997
4.90
1998
4.50
1999
4.20
2000
4.00
2001
4.80
2002
5.80
2003
6.20
2004
5.50
2005
5.00
2006
6.10
1)
Find the sample mean and sample standard deviation using Minitab using descriptive statistics.
2)
The store manager found that the average growth rate in 80s was 6.00%. Using the data, prove
if the average growth rate for the sample period was same as that of 80s.
3)
Prove if the average growth rate was less than 6
check_circleExpert Solution
Step 1

1).

The sample mean and standard deviation can be obtained using Minitab is as follows:

Step-by-step procedure to obtain the sample mean and standard deviation is given below:

  • Choose Stat > Basic Statistics > Display Descriptive Statistics.
  • In Variables enter the columns Variable as Sales.
  • Click OK.
Step 2

The output obtained using Minitab is represented as follows:

From the above output, the sample mean and standard deviation are 5.35 and 0.82 respectively.

Descriptive Statistics: Sales
Statistics
Variable
Mean
StDev
Sales
5.35
0.82
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Descriptive Statistics: Sales Statistics Variable Mean StDev Sales 5.35 0.82

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Step 3

2).

The null and alternative hypotheses are stated below:

Null hypothesis: The sample average growth rate is same as that of 80&rs...

H 6
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H 6

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