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You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the national average of 900. In 6 of the stores, the price of a small coffee will now be $0.59, in 6 stores the price of a small coffee will now be $0.69, in 6 stores, the price of a small coffee will now be $0.79, and in 6 stores, the price of a small coffee will now be $0.89. After four weeks of selling the coffee at the new price, the daily customer counts in the stores were recorded and stored in CoffeeSales 1. Analyze the data and determine whether there is evidence of a difference in the daily customer count, based on the price of a small coffee. 2. If appropriate, determine which mean prices differ in daily customer counts. 3. What price do you recommend for a small coffee?

You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the national average of 900. In 6 of the stores, the price of a small coffee will now be $0.59, in 6 stores the price of a small coffee will now be $0.69, in 6 stores, the price of a small coffee will now be $0.79, and in 6 stores, the price of a small coffee will now be $0.89. After four weeks of selling the coffee at the new price, the daily customer counts in the stores were recorded and stored in CoffeeSales 1. Analyze the data and determine whether there is evidence of a difference in the daily customer count, based on the price of a small coffee. 2. If appropriate, determine which mean prices differ in daily customer counts. 3. What price do you recommend for a small coffee?

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter11: Data Analysis And Displays
Section: Chapter Questions
Problem 10CT
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Sure Value Convenience Stores You work in the corporate office for a nationwide convenience store franchise that operates nearly 10,000 stores. The per-store daily customer count (i.e., the mean number of customers in a store in one day) has been steady, at 900, for some time. To increase the customer count, the chain is considering cutting prices for coffee beverages. The question to be determined is how much to cut prices to increase the daily customer count without reducing the gross margin on coffee sales too much.
Transcribed Image Text:Sure Value Convenience Stores You work in the corporate office for a nationwide convenience store franchise that operates nearly 10,000 stores. The per-store daily customer count (i.e., the mean number of customers in a store in one day) has been steady, at 900, for some time. To increase the customer count, the chain is considering cutting prices for coffee beverages. The question to be determined is how much to cut prices to increase the daily customer count without reducing the gross margin on coffee sales too much.
You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the national average of 900. In 6 of the stores, the price of a small coffee will now be $0.59, in 6 stores the price of a small coffee will now be $0.69, in 6 stores, the price of a small coffee will now be $0.79, and in 6 stores, the price of a small coffee will now be $0.89. After four weeks of selling the coffee at the new price, the daily customer counts in the stores were recorded and stored in CoffeeSales. 1. Analyze the data and determine whether there is evidence of a difference in the daily customer count, based on the price of a small coffee. 2. If appropriate, determine which mean prices differ in daily customer counts. 3. What price do you recommend for a small coffee?
Transcribed Image Text:You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the national average of 900. In 6 of the stores, the price of a small coffee will now be $0.59, in 6 stores the price of a small coffee will now be $0.69, in 6 stores, the price of a small coffee will now be $0.79, and in 6 stores, the price of a small coffee will now be $0.89. After four weeks of selling the coffee at the new price, the daily customer counts in the stores were recorded and stored in CoffeeSales. 1. Analyze the data and determine whether there is evidence of a difference in the daily customer count, based on the price of a small coffee. 2. If appropriate, determine which mean prices differ in daily customer counts. 3. What price do you recommend for a small coffee?
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