SOLUTION: According to the boss of the retail outlets, these are the figures of the daily sales for the month of November and December. The boss claims that the average daily sales exceed $2

Question 183351: According to the boss of the retail outlets, these are the figures of the daily sales for the month of November and December. The boss claims that the average daily sales exceed $250 000.
November 08 (in $000)
215
180
240
246
267
305
245
311
265
224
285
255
235
268
290
187
263
255
266
278
233
203
226
264
335
320
December 08 (in $000)
229
185
238
267
224
280
260
265
285
210
235
200
204
223
187
265
280
240
248
268
240
215
225
245
240
255
320
Determine if the mean daily sale in December is significantly lower than November 2008 with the following:
a) State the null and alternative hypothesis and explain how it is derived.
b) Which would be an appropriate test for this case?
c) State the assumptions made in performing this test and is it reasonable?
d) Perform an appropriate hypothesis test with alpha=0.05 using critical value approach.

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Determine if the mean daily sale in December is significantly lower than November 2008 with the following:
a) State the null and alternative hypothesis and explain how it is derived.
Ho: u(december)-u(november) = 0
Ha: u(december)-u(november) < 0
--------------
b) Which would be an appropriate test for this case?
Two-Sample T test
----------------------------------
c) State the assumptions made in performing this test and is it reasonable?
d) Perform an appropriate hypothesis test with alpha=0.05 using critical value approach
---
You need to determine the two sample means in order to conduct the test.
========================
Cheers
Stan H.
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