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Acompanysellinglicensesofnewe-commercesoftwareadvertisedthatfirmsusingthissoftware could obtain, on average during the first year, a minimum yield (in cost savings) of 20...

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Basic Math

  1. Acompanysellinglicensesofnewe-commercesoftwareadvertisedthatfirmsusingthissoftwarecould obtain, on average during the first year, a minimum yield (incost savings) of 20 percent on average on their softwareinvestment. To disprove the claim, we checked with 10 differentfirms which used the software. These firms reported the followingcost-saving yields (in percent) during the first year of theiroperations:

    {17.0, 19.2, 21.5, 18.6, 22.1, 14.9, 18.4, 20.1, 19.4,18.9}.

    1. Do we have significant evidence to show that the softwarecompany’s claim of a minimum of 20 percent in cost savings was notvalid? Test using ? = 0.05.

    2. Compute a 95% confidence interval for the average cost-savingyield estimate.

Answer & Explanation Solved by verified expert
3.9 Ratings (496 Votes)
Ho 20 Ha Do not reject null hypothesis Conclusion There is not enough evidence to    See Answer
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