Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Stone Solutions, a sales company, is looking to predict its average sales for next month of October. The company is claiming that their average sales for the upcoming month of October will be at least 82,750 dollars. A group of seven people suspect the claim may be incorrect and based on a random sample gathered from 8 currently used sales representatives and one category of sales made without representatives, the total number of sales from January to September was 713,888.93 dollars. Since this represents approximately nine months of sales, this number was divided by 9 to give average monthly sales. According to data, the average monthly sales in company are 79,320.99 dollars with the standard deviation of 47,953.34 dollars. Supposing the population is normally distributed they decide to perform the hypothesis test.

Statement of Hypotheses

The null hypothesis would be average sales for October is greater than or equal to 82,750 dollars or H? : µ ≥ 82,750.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M920662

Have any Question? 


Related Questions in Statistics and Probability

The term critical value is often used to refer to the value

The term critical value is often used to refer to the value of a test statistic that determines statistical significance at some fixed α level for a test. For example,  + 1.96 are the critical values for a two-tailed z-t ...

Since 1865 african americans native americans women latino

Since 1865, African Americans, Native Americans, Women, Latino Americans, Asian Americans, other Minority Groups (native-born and immigrant), Homosexuals, Immigrants from all over, Religious Groups, etc. all agitated for ...

A coffee store owner knows that a customer gets a coffee in

A coffee store owner knows that a customer gets a coffee in 35% of the store's transactions. If we take a random sample of 300 customers, what is the probability that less than 32% of them buy a coffee? (A) 0.1292 (B) 0. ...

Imagine that you predicted a moderate correlation between

Imagine that you predicted a moderate correlation between people's scores on a measure of anxiety and the degree to which they report having insomnia. You administered measures of anxiety and insomnia to a sample of 30 p ...

Forty-four percent of consumers with credit cards carry

Forty-four percent of consumers with credit cards carry balances from month to month. five consumers with credit cards are randomly selected. What is the probability that all consumers carry a credit card balance?

In a pulse rate research a simple random sample of 120 men

In a pulse rate research, a simple random sample of 120 men results in a mean of 80 beats per minute, and a standard deviation of 11 beats per minute. Based on the sample results, the researcher concludes that the pulse ...

Module assignmentthe paired data below consists of test

Module Assignment The paired data below consists of test scores and hours of preparation for 5 randomly selected students. Use this data set to answer the questions below: x Hours of preparation   5    2    9   6   10 y ...

Develop a research question that addresses one of the

Develop a research question that addresses one of the unknowns in the question: Positive interactions between the CEO and board members lead to enhanced and better performance of the Corporation . Address the following 1 ...

What is the comparison between the threat that the world

What is the comparison between the threat that the world faced from the fascists and communists during the 20th century and the threat faced by the world today from radical Islam? Be sure to include specific two historic ...

Although quasi-experimental designs are widely accepted in

Although quasi-experimental designs are widely accepted in behavioral science, some researchers are troubled by the fact that the evidence provided by quasiexperiments is seldom as conclusive as that provided by true exp ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro