Conclusion of the price reduction

Assignment Help Basic Statistics
Reference no: EM1395107

The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is enough to increase the sales of its product. To investigate, the owner randomly selected eight outlets and sold the MP3 player at the reduced price. At seven randomly selected outlets, the MP3 player was sold at the regular price. Reported below is the number of units sold last month at the sampled outlets. At the .01 significance level, can the manufacturer conclude that the price reduction resulted in an increase in sales?

Regular price  138 121 88 115 141 125 96 0
Reduced price 128 134 152 135 114 106 112 120

Reference no: EM1395107

Questions Cloud

Calculate the chi square value of a monohybrid cross : A man and a woman each have one sickle-cell anemia allele. He is color blind, while she is a carrier for color-blindness. What is the probability that a daughter will have both full-blown sickle-cell anemia and be colorblind?
Elasticity of aggregate cigarette demand : Does the difference in the change in the general CPI compared to the change in the Medical CPI clearly indicate that there has been more inflation in the medical industry than overall in the economy?
Which graduated cylinder would have greatest volume change : Which graduated cylinder would have the greatest volume change if equal masses of Au and Pt are transferred to equal volumes of H2O in separate graduated cylinders? Density of gold = 19.31 g/cm3 , density of platinum =21.43 g/cm3
Experiment and observational study : A meat processing plant has processed an average of 100 tons per day for the last several years. Newer processing machines have been installed recently.
Conclusion of the price reduction : At the .01 significance level, can the manufacturer conclude that the price reduction resulted in an increase in sales?
What is the volume in the cylinder at equilibrium : Assume that 0.406 mol Carbon (g) is placed in a cylinder that is expanding. The barometric pressure on the outside of the cylinder is constant at 1.00 atm and the temperature is 300.0 K.
Drinking and driving-identify the variables : A social psychologist is studying college students attitudes toward drinking and driving. He is specifically interested in attitude change as a result of years in college and of viewing the consequences of drinking and driving accidents.
What is the limiting reagent in the reduction : What is the limiting reagent in the reduction of C10H16O with NaBH4 assuming you initiate it with.1 g of sodium borohydride and .1 g of camphor?
Explain organization to make ethical organization profile : Explain organization you will be using to make your Ethical Organization Profile. Describe the present moral and ethical issues faced by virtual organization.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd