Question

In: Statistics and Probability

A marketing consultant was hired to visit a random sample of five sporting goods stores across...

A marketing consultant was hired to visit a random sample of five sporting goods stores across the state of California. Each store was part of a large franchise of sporting goods stores. The consultant taught the managers of each store better ways to advertise and display their goods. The net sales for 1 month before and 1 month after the consultant's visit were recorded as follows for each store (in thousands of dollars): Store 1 2 3 4 5 Before visit 57.5 94.4 49.2 77.4 43.2 After visit 63.7 101.8 57.8 81.2 41.9 Do the data indicate that the average net sales improved? Use α = 0.05. (Let d = before − after.) What are we testing in this problem? single mean difference of proportions paired difference difference of means single proportion (a) What is the level of significance? State the null and alternate hypotheses. H0: μd > 0; H1: μd = 0 H0: μd = 0; H1: μd ≠ 0 H0: μd = 0; H1: μd < 0 H0: μd = 0; H1: μd > 0 (b) What sampling distribution will you use? What assumptions are you making? The standard normal. We assume that d has an approximately uniform distribution. The Student's t. We assume that d has an approximately uniform distribution. The standard normal. We assume that d has an approximately normal distribution. The Student's t. We assume that d has an approximately normal distribution. What is the value of the sample test statistic? (Round your answer to three decimal places.) (c) Find (or estimate) the P-value. P-value > 0.250 0.125 < P-value < 0.250 0.050 < P-value < 0.125 0.025 < P-value < 0.050 0.005 < P-value < 0.025 P-value < 0.005 Sketch the sampling distribution and show the area corresponding to the P-value. Maple Generated Plot Maple Generated Plot Maple Generated Plot Maple Generated Plot (d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis? Are the data statistically significant at level α? At the α = 0.05 level, we reject the null hypothesis and conclude the data are statistically significant. At the α = 0.05 level, we reject the null hypothesis and conclude the data are not statistically significant. At the α = 0.05 level, we fail to reject the null hypothesis and conclude the data are statistically significant. At the α = 0.05 level, we fail to reject the null hypothesis and conclude the data are not statistically significant. (e) Interpret your conclusion in the context of the application. There is sufficient evidence at the 0.05 to conclude that the average net sales have improved. There is insufficient evidence at the 0.05 to conclude that the average net sales have improved.

Solutions

Expert Solution


Related Solutions

A marketing consultant was hired to visit a random sample of five sporting goods stores across...
A marketing consultant was hired to visit a random sample of five sporting goods stores across the state of California. Each store was part of a large franchise of sporting goods stores. The consultant taught the managers of each store better ways to advertise and display their goods. The net sales for 1 month before and 1 month after the consultant’s visit were recorded as follows for each store (in thousands of dollars): Before visit: 57.1 94.6 49.2 77.4 43.2...
Observations are taken on sales of a certain mountain bike in 22 sporting goods stores. The...
Observations are taken on sales of a certain mountain bike in 22 sporting goods stores. The regression model was Y = total sales (thousands of dollars), X1 = display floor space (square meters), X2 = competitors' advertising expenditures (thousands of dollars), X3 = advertised price (dollars per unit). (a) Fill in the values in the table given here. (Negative values should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round...
A consultant was hired to build an optimization model for a large marketing research company. The...
A consultant was hired to build an optimization model for a large marketing research company. The model is based on a consumer survey that was taken in which each person was asked to rank 30 new products in descending order based on their likelihood of purchasing the product. The consultant was assigned the task of building a model that selects the minimum number of products (which would then be introduced into the marketplace) such that the first, second, and third...
Research forecasting and demand. As a regional manager of 13 sporting goods stores, you are thinking...
Research forecasting and demand. As a regional manager of 13 sporting goods stores, you are thinking about expanding the number of outlets in your area. How will you forecast demand and not sales? What types of forecasts would you want to create in order to support your decision? Make sure you have read the specific requirements for your original posting and your subsequent peer responses.
Ubisoft is a large manufacturer of video games. The Marketing Manager has hired a consultant to...
Ubisoft is a large manufacturer of video games. The Marketing Manager has hired a consultant to design a survey to determine attitudes towards the products. In addition the percentage of young adults in Quebec owning video games and the average usage rate per week are to be determined. The Marketing Manager wants to be 95% confident of the results and does not want the error to exceed 3 percentage points for video game ownership and 1 hour for average usage...
A sporting goods company operates retail stores in the San Francisco and San Jose areas. Customers...
A sporting goods company operates retail stores in the San Francisco and San Jose areas. Customers were asked to rate their shopping experiences. Their results indicated that 15% rated their shopping experience as Poor, 45% as Average, and 40% as Good. In addition, 67% of the customers who rated their experience as Poor came from San Jose, 36% of the customers who rated their experience as Average came from San Jose, and 30% of the customers who rated their experience...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y4: 1 Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due 2 Past 3 Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 4 AAA Outfitters 20,900.00 20,900.00 5...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y6: 1 Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due 2 Past 3 Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 4 AAA Outfitters 20,000.00 20,000.00 5...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y4: The following accounts were unintentionally omitted from the aging schedule. Assume all due dates are for the current year except for Wolfe Sports, which is due in the next year. Customer Due Date Balance Adams...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the...
Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y4: 1 Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due 2 Past 3 Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 4 AAA Outfitters 20,600.00 20,600.00 5...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT