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

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.

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...

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