Solution-Conduct appropriate test of hypotheses to test

Conduct appropriate test of hypotheses to test claim

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Reference no: EM131319446

A drug company wants to analyze if its new marketing strategy adopted last year is successful is increasing sales. It randomly chooses 49 drugs from its list of products. For each drug, it computes the sales (in million USD) for 2012 and 2013. The summary for the dataset is given below:

Year	Sample mean	Sample variance	Correlation coefficient
2012	20.8	16.8	0.50
2013	32.8	18.2

The company will consider its marketing strategy successful only if the average sales of all drugs that it manufactures increases from 2012 to 2013. Conduct an appropriate test of hypotheses to test the claim that the marketing strategy is successful. Choose the level at 5%.

Reference no: EM131319446

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Conduct appropriate test of hypotheses to test claim

Reference no: EM131319446

Reference no: EM131319446

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