In a sales pitch TriCon, a strategic security company, claims they have been able to decrease the sales lost to theft in their previous clients by any average of 3%. A sample of quarterly lost sales reports of other companies before and after hiring TriCon is provided below (also available for download here Sales.xlsx). Given σBEFORE = 2.23 and σAFTER = 1.89, at a 5% level of significance can you conclude that, for other companies, hiring TriCon has lead to a reduction in lost sales? YOU CAN ASSUME THE POPULATION TO BE NORMALLY DISTRIBUTED. Quarterly lost sales ($1,000s) Before TriCon Plan After TriCon Plan 5.25 5.1 5.83 3.35 6.14 6.97 5.36 6.39 4.7 6.78 4.86 3.55 5.45 3.32 5.32 6.48 7.76 6.34 6.15 6.34 7.73 3.67 7.78 4.23 7.52 6.11 5.73 4.5 7.36 5.16 7.91 4.41 6.85 4.04 7.02 6.42 7.14 6.01 5.98 3.49 5.09 5.54 5.68 7.7 5.02 4.14 4.29 b) p-value: c) Conclusion:
In a sales pitch TriCon, a strategic security company, claims they have been able to decrease the sales lost to theft in their previous clients by any average of 3%. A sample of quarterly lost sales reports of other companies before and after hiring TriCon is provided below (also available for download here Sales.xlsx). Given σBEFORE = 2.23 and σAFTER = 1.89, at a 5% level of significance can you conclude that, for other companies, hiring TriCon has lead to a reduction in lost sales? YOU CAN ASSUME THE POPULATION TO BE NORMALLY DISTRIBUTED. Quarterly lost sales ($1,000s) Before TriCon Plan After TriCon Plan 5.25 5.1 5.83 3.35 6.14 6.97 5.36 6.39 4.7 6.78 4.86 3.55 5.45 3.32 5.32 6.48 7.76 6.34 6.15 6.34 7.73 3.67 7.78 4.23 7.52 6.11 5.73 4.5 7.36 5.16 7.91 4.41 6.85 4.04 7.02 6.42 7.14 6.01 5.98 3.49 5.09 5.54 5.68 7.7 5.02 4.14 4.29 b) p-value: c) Conclusion:
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section: Chapter Questions
Problem 8CR
Related questions
Question
In a sales pitch TriCon, a strategic security company, claims they have been able to decrease the sales lost to theft in their previous clients by any average of 3%. A sample of quarterly lost sales reports of other companies before and after hiring TriCon is provided below (also available for download here Sales.xlsx). Given σBEFORE = 2.23 and σAFTER = 1.89, at a 5% level of significance can you conclude that, for other companies, hiring TriCon has lead to a reduction in lost sales? YOU CAN ASSUME THE POPULATION TO BE
| Quarterly lost sales ($1,000s) | |
| Before TriCon Plan | After TriCon Plan |
| 5.25 | 5.1 |
| 5.83 | 3.35 |
| 6.14 | 6.97 |
| 5.36 | 6.39 |
| 4.7 | 6.78 |
| 4.86 | 3.55 |
| 5.45 | 3.32 |
| 5.32 | 6.48 |
| 7.76 | 6.34 |
| 6.15 | 6.34 |
| 7.73 | 3.67 |
| 7.78 | 4.23 |
| 7.52 | 6.11 |
| 5.73 | 4.5 |
| 7.36 | 5.16 |
| 7.91 | 4.41 |
| 6.85 | 4.04 |
| 7.02 | 6.42 |
| 7.14 | 6.01 |
| 5.98 | 3.49 |
| 5.09 | 5.54 |
| 5.68 | |
| 7.7 | |
| 5.02 | |
| 4.14 | |
| 4.29 |
b) p-value:
c) Conclusion:
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