SOLUTION: Before the change the average sales used to be 24952$ a day with a standard deviation of $1904 a random sample of 38 days gave a sample mean of $25894 a day does this indicate the

Question 1105651: Before the change the average sales used to be 24952$ a day with a standard deviation of $1904 a random sample of 38 days gave a sample mean of $25894 a day does this indicate the population mean daily sales are now more then they used to be use 1% level is significance
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Before the change the average sales used to be 24952$ a day with a standard deviation of $1904. A random sample of 38 days gave a sample mean of $25894 a day. Does this indicate the population mean daily sales are now more then they used to be? Use 1% level of significance.
--------------
Ho: u<= 24952
Ha: u > 24952 (claim)
---------------
z(25894) = (25894-24952)/(1904/sqrt(38)) = 3.049
---
p-value = p(z > 3.049) = normalcdf(3.049,100) = 0.0011
-----
Conclusion:: Since the p-value is less than 1% reject Ho.
Conclusion:: The test results support the claim that u > 24952
---------
Cheers,
Stan H.
-----------
RELATED QUESTIONS
(a) What is the level of significance? State the null and alternate hypotheses. Will you... (answered by Boreal)

In a random sample of 20 days, a newspaper dealer sold on the average 345 newspapers... (answered by CPhill)

A clothing store manager takes a random sample of 40 sales for the day. From this sample... (answered by Boreal)

1. The null and alternate hypotheses are: Ho: U1= U2 H1: U1=/ U2 - The /should be... (answered by stanbon)

1.Due to the sharp increase in the prices of urban properties over the last five years,... (answered by greenestamps)

The average flight from point A to B takes 40 minutes with a standard deviation of 5... (answered by stanbon)

The manager of a warehouse store wants to estimate the average number of laser printer... (answered by Boreal)

Prior to the expansion of the civic library, it was determined that 400 books were loaned (answered by stanbon)

A random sample of 50 four-year-olds attending day care centers provided a yearly tuition (answered by paulacutino)