The owner collects data from 100 customers and finds that 60% of them are interested in trying the new flavor of coffee drink and would be willing to pay a higher price for it. The owner also sells 50 cups of the new flavor of coffee drink during the week at an average price of $4.50. With a significance level of 0.05, the owner can calculate the t-value and -value to determine if the results are statistically significant.
The owner collects data from 100 customers and finds that 60% of them are interested in trying the new flavor of coffee drink and would be willing to pay a higher price for it. The owner also sells 50 cups of the new flavor of coffee drink during the week at an average price of $4.50. With a significance level of 0.05, the owner can calculate the t-value and -value to determine if the results are statistically significant.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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