SOLUTION: The Sales manager at Hybrid Industries a high tech farming agency claims that there has been a drop in the sales from the target of $2800/- per week. Data was collected for the las
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Question 1132070: The Sales manager at Hybrid Industries a high tech farming agency claims that there has been a drop in the sales from the target of $2800/- per week. Data was collected for the last 48 weeks and the sample mean was computed as $ 2435/- with a s.d. $ 351. Verify at 5% los if the manager’s claim can be accepted based on the sample observations. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! Assuming normality, random sample and s being an unbiased estimator of sigma, all that
test statistic is a t 0.975, df=48
critical value |t|>2.01
calculation (x bar-mean)s/sqrt(48)
that is (-365)/351/sqrt(48)
which is -7.20 and strongly reject Ho that the two are equal with p<<0.0001
