Economic topic. Solve it A radio shop sells, on an average, 200 radios per day with a standard deviation of 50 radios After an extensive advertising campaign, the management will compute the average sales for the next 25 days to see whether an improvement has occurred. Assume that the daily sales of radios is normally distributed: (i) Write down the null and the alternative hypotheses. (ii) Test the hypothesis at 5% level of significance if X = 216. %3D (iii) How large must Xbe in order that the null hypothesis is rejected at 5% level of significance.

Economic topic. Solve it A radio shop sells, on an average, 200 radios per day with a standard deviation of 50 radios After an extensive advertising campaign, the management will compute the average sales for the next 25 days to see whether an improvement has occurred. Assume that the daily sales of radios is normally distributed: (i) Write down the null and the alternative hypotheses. (ii) Test the hypothesis at 5% level of significance if X = 216. %3D (iii) How large must Xbe in order that the null hypothesis is rejected at 5% level of significance.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4A: Problems In Applying The Linear Regression Model

Section: Chapter Questions

Problem 5E

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What is the value of the test statistic for a test with a null hypothesis that mu = 250, Xbar = 260 the standard deviation = 5 and n = 100?
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ASSISTANCE REQUIRED FOR PART "e" i- vi ONLY, please. Also can you please show step by step how to get null and alternative in the hypothesis? A car company wants to know the monthly sales made in ($000), based on the brand of vehicle.The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. Exhibit 2 Model N Mean Median Tri.Mean Std Dev S.E. Mean Hyundai 23 109 135 107.64 * 1.34 Toyota 27 165 124 143.65 9.5 ** a) Determine the values of * and **. b) Give the unbiased point estimate for the average monthly earning from Hyundai Vehicles.c) Give the unbiased point estimate for the variance of monthly earning from Hyundai Vehicles.d) Assuming normality, construct and interpret a 90% confidence interval for the average monthly earning from Toyota Vehicles. e) You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicles is equal to $110,000 versus the…
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