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Your company has entered a new area, which is demographically similar to the area where you...

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General Management

Your company has entered a new area, which is demographicallysimilar to the area where you do business. The mean for sales eachday in your current areas is $2000. You randomly selected 25 dailysales in the new area. The sample mean for this group is $2100 witha standard deviation of $250. At ? = 0.05.

a.    Test to see if the average sale in the newarea is different than the average sale in the current area.

b.    One of the directors is concerned that thesales in this new area may be higher. Test if the concern isvalid?

Answer & Explanation Solved by verified expert
4.5 Ratings (730 Votes)
a vsAs n is less than 30 andpopulation varaince not known we will use tdistributionThe tcritical    See Answer
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