User Account

All Pages

Conduct appropriate test of hypotheses to test claim

Assignment Help Basic Statistics
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

Questions Cloud

Is it possible to speak of ethnic groups in america : Sociology came into existence in the 19th century to explain the enormous changes occasioned by the Industrial Revolution, urbanization, and an individualistic mind-set. Unlike agrarian communities, the emerging urban populations were large, numbe..
Observed data contradict the hypothesis : Write down the null and alternate hypotheses.Do the observed data contradict the hypothesis? Formulate and test the appropriate hypotheses at the 5% level of significance. Use the critical value approach.
Why did you select this particular speaker : Why did you select this particular speaker? Explain .Which is the in-group, and what are the unifying values or the ascribed status that provides its solidarity? Explain.What stereotype-prejudice, subordination, or discrimination-is the in-group ch..
Formulate and test the appropriate hypotheses : Write down the null and alternate hypotheses. Formulate and test the appropriate hypotheses. Use the critical value approach. Assume that the population of paired differences has a normal distribution.
Conduct appropriate test of hypotheses to test claim : 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 success..
Differences in us military during times of peace and war : Evaluate differences in the U.S. military during times of peace and war. Your review must be at least one page, not counting title and reference pages
What is your relationship with the organization : What is the organization and how did you select it? What is your relationship with the organization? Using a systems perspective, include any historical information about the organization and the organization's culture that would be helpful in thi..
Why this diagram is a misleading representation of entropies : Discuss why this diagram is a misleading representation of entropies. Hint: consider the three-variable ensemble XY Z in which x ∈ {0, 1} and y ∈ {0, 1} are independent binary variables and z ∈ {0, 1} is defined to be z = x + y mod 2
Salespeople play three primary roles-what are they : Salespeople play three primary roles. What are they? Salespeople create value in what two ways - Do customer relationships begin as transactional and move toward strategic partnerships?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Construct confidence interval for proportion of all quebec

Construct and interpret a 99% confidence interval for the proportion of all quebec adults who would allow doctor assisted suicide.

  Margin error for the confidence interval

To report their finding they want to create a 90% confidence interval. What would be the margin error for this confidence interval?

  Transtutors assist me with this statistics assignment

Good morning- I had a tutor from TransTutors assist me with this statistics assignment last week and the answer they provided for me was not correct, therefore giving me a grade of 2.7/30. The professor is allowing me to resubmit and has given me ..

  Indicate whether the data are a time series or a cross

indicate whether the data are a time series or a cross section.number of cars sold in a dealership each day in

  Compute the p-value and interpret its meaning

Compute the p-value and interpret its meaning - Construct a 95% confidence interval estimate of the population mean life of the light bulbs.

  Is there enough evidence to reject the claim

The IRS claims that the mean wait time for callers during tax season is at most 7 minutes. A random sample of 11 callers has a mean wait time of 8.7 minutes and a standard deviation of 2.7 minutes. Is there enough evidence to reject the claim at a..

  Probability distribution for possible results of experiment

The probability distribution for the possible results of an experiment is given, Determine the mean of the distribution.

  Havingz-component of magnetic moment

Consider a system of three spin-1/2 particles, each havingz-component of magnetic moment equal to±µ. If there is no external magnetic field (B= 0), all spin states are of the same energy and are equally accessible.

  Correct and wrong identification

The trail was repeated 54 times with 22 correct identifications and 32 wrong identification.

  Samples of size n 5 are collected from a process every

q1. samples of size n 5 are collected from a process every half hour. after 50 samples have been collected we

  Formulate production plan and compute profit

The Water Authority informs Margaret that for a special fee of $6,000 this year, her farm will qualify for an additional allotment of 600 acre-feet of water. How should she respond?

  Confidence interval for percent increase in gambling

Our decisions depend on how the options are presented to us. Here's an experiment that illustrates this phenomenon. Tell 20 subjects that they have been given $50 but can't keep it all.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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