1) Suppose there is a hypothesis arguing that the population mean of the daily inventory holding...

1) Suppose there is a hypothesis arguing that the population mean of the daily inventory holding cost is 1.5 times the value of average daily inventory holding cost during the selected period (November and December 2019) Pre-COVID-19 (X_1 ). List the full analytical steps to test this hypothesis? Comment on the result and write your conclusion regarding the hypothesis?

Date		1/Nov/2019	2/Nov/2019	3/Nov/2019	4/Nov/2019	5/Nov/2019
Pre-COVID-19	Y1	3366.9	3371.9	3369.9	3369.7	3370.5
Pre-COVID-19	X1	9.4	6.5	8.0	7.5	7.6
Date		1/Apr/2020	2/Apr/2020	3/Apr/2020	4/Apr/2020	5/Apr/2020
Post-COVID-19	Y2	1955.9	1968.3	1968.2	1964.3	1964.7
Post-COVID-19	X2	7.8	11.1	10.3	5.5	6.9

Solutions

Expert Solution

For computation of mean and sample standard deviation, S of X1 in excel follow the given steps:

Firstly enter the data into excel
Then for mean, use the function '=AVERAGE(data)' where in data select X1 dataset.
Then for S, use funtion '=STDEV.S(data)' where in data select X1 dataset.

orchestra answered 2 years ago

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