Maxwell’s hot chocolate is concerned about the effect of the year-long coffee advertising campaign on the chocolate sales. The weekly hot chocolate sales from 15 locations (in this year) is collected and summarized in the following table. Descriptive Statistics N Sum Range Minimum Maximum Mean Std. Deviation Variance Sales 15 --- --- 20 197 24.80 3.53 12.46 a) Calculate the missing values in the table (Sum and Range) b) The average sales was $26.6 last year and the manager of the firm claim that there is a decrease in the sales this year. Does the data provide sufficient evidence to support the claim of the manager at 1% significance level? Show your calculations in detail and interpret the result.
Maxwell’s hot chocolate is concerned about the effect of the year-long coffee advertising campaign on the chocolate sales. The weekly hot chocolate sales from 15 locations (in this year) is collected and summarized in the following table. Descriptive Statistics N Sum Range Minimum Maximum Mean Std. Deviation Variance Sales 15 --- --- 20 197 24.80 3.53 12.46 a) Calculate the missing values in the table (Sum and Range) b) The average sales was $26.6 last year and the manager of the firm claim that there is a decrease in the sales this year. Does the data provide sufficient evidence to support the claim of the manager at 1% significance level? Show your calculations in detail and interpret the result.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 26PFA
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Maxwell’s hot chocolate is concerned about the effect of the year-long coffee advertising campaign on the chocolate sales. The weekly hot chocolate sales from 15 locations (in this year) is collected and summarized in the following table.
a) Calculate the missing values in the table (Sum and Range)
b) The average sales was $26.6 last year and the manager of the firm claim that there is a decrease in the sales this year. Does the data provide sufficient evidence to support the claim of the manager at 1% significance level? Show your calculations in detail and interpret the result.
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