2. A company recently opened two supermarkets in different areas. Management wanted to know if the...

2. A company recently opened two supermarkets in different areas. Management wanted to know if the average sales per day for the two supermarkets was different. A 35-day sample for Supermarket A produced an average daily sales of $ 53,700, with a standard deviation of $ 2,900. A 30-day sample for Supermarket B produced an average daily sales of $ 58,450, with a standard deviation of $ 3,100.

to. Build a 96% confidence interval to estimate the difference between the average daily sales for the two supermarkets.
b. Test at a 5% significance level if the average daily sales for the two supermarkets are different.
c. Interpret the conclusion obtained in part b.

Solutions

Expert Solution

Let denote the average daily sales of Supermarket A and Supermarket B respectively.

orchestra answered 11 months ago

Next > < Previous

Related Solutions

2. Suppose a company wanted to know if there was a significant in the average income of...

2. Suppose a company wanted to know if there was a significant in the average income of its male and female customers. Develop a null and alternate hypothesis for such a problem and give a conclusion based on the p-value results of .04. Assume you are testing at the .05 level of significance. 3. A company wants to know the useful life of a new revolutionary lightbulb it has just developed. A mean of 64 of these bulbs revealed a mean useful life of...

QUESTION 25 The top management of Everest Manufacturing wanted to know how well the company is...

QUESTION 25 The top management of Everest Manufacturing wanted to know how well the company is managing its accounts receivable (AR) compared to its peers. The management gathered the following information from the aging schedule of AR: Days Outstanding Average Collection Period % Weight At most 30 days 23 days 40% 31 days to 60 days 54 days 25% 61 days to 120 days 93 days 20% More than 120 days 168 days 15% Based on their recently issued financial...

A traveler wanted to know if the prices of hotels are different in the ten cities...

A traveler wanted to know if the prices of hotels are different in the ten cities that he visits the most often. The list of the cities with the corresponding hotel prices for his two favorite hotel chains is in the table below. Test at the 1% level of significance. Cities Hyatt Regency prices in dollars Hilton prices in dollars Atlanta 107 169 Boston 358 289 Chicago 209 299 Dallas 209 198 Denver 167 169 Indianapolis 179 214 Los Angeles...

A researcher wanted to know if a particular brand was preferred by different age groups. The...

A researcher wanted to know if a particular brand was preferred by different age groups. The researcher observed the data below. Is there a relationship between age and brand? Brand A Brand B Brand C Under 30 120 130 110 30 – 50 77 127 140 50 and older 84 100 98 Which test are you using? What are your H0 (null hypothesis) and Ha (alternative hypothesis)? Calculate your statistic. What decision does this inform you to make and why?...

2. The managers of three different supermarkets in the US desire to test the effectiveness of...

2. The managers of three different supermarkets in the US desire to test the effectiveness of a new store design on sales. The manager of supermarket A decides to let store directors choose on their own whether they judge appropriate to implement the new design. The manager of supermarket B randomly chooses stores to assign the new design. The manager of supermarket C randomly draws stores in each US State separately. (a) State whether each of the three experimental designs...

Suppose a company wanted to know if there was a significant in the average income of...

Suppose a company wanted to know if there was a significant in the average income of its male and female customers. Develop a null and alternate hypothesis for such a problem and give a conclusion based on the p-value results of .04. Assume you are testing at the .05 level of significance

A company wanted to know if there is correlation between the demands and supply, data was...

A company wanted to know if there is correlation between the demands and supply, data was collected for a nine month as follows: demand 20 30 40 50 60 supply 15 25 35 45 55 1-Using the formula for the sample correlation coefficient to evaluate the strength of the linear relationship. 2- Correlation Significance Test at α=0.05 T(0.05; 9 ) T(0.05; 7) T(0.025;7) T(0.025; 9) 1.833 1.895 2.365 2.262

A Company that makes shopping carts for supermarkets and other stores recently purchased some new equipment...

A Company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts. Prior to buying the new equipment, the company used 4 workers, who produced an average of 82 carts per hour. Workers receive $11 per hour, and machine coast was $52 per hour. With the new equipment, it was possible to transfer one of the workers to another department, and equipment...

A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment...

A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts. Prior to buying the new equipment, the company used 6 workers, who together produced an average of 70 carts per hour. Workers receive $15 per hour, and machine cost was $30 per hour. With the new equipment, it was possible to transfer one of the workers to another department, and...

A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment...

A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labour content of the jobs needed to pro- duce the shopping carts. Prior to buying the new equip- ment, the company used four workers, who produced an average of 80 carts per hour. Labour cost was $10 per hour and machine cost was $40 per hour. With the new equipment, it was possible to transfer one of the workers to another...

Subjects