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

Letnbspnbsprepresent a three-dimensional vector of random

Let   represent a three-dimensional vector of random variables that is uniformly distributed over the unit sphere. That is, (a) Find the constant c. (b) Find the marginal PDF for a subset of two of the three random varia ...

Explain three assumptions for the evaluation of a

Explain three assumptions for the evaluation of a correlation coefficient. Explain three limitations for evaluation a correlation coefficient

How did the federal government shape the lives of us

How did the federal government shape the lives of U.S. citizens in the period from 1865 through the time of industrialization and urbanization?

1 umu stat club is sending a delegate of 2 members to

1. UMU Stat Club is sending a delegate of 2 members to attend the 2015 Joint Statistical Meeting in Seattle. There are 10 qualified candidates. How many different ways can the delegate be selected? 2 . Imagine you are in ...

Suppose x and y are independent and gaussian with means

Suppose X and Y are independent and Gaussian with means of   respectively, and equal variances of σ   The polar variables are formed according to    (a) Find the joint PDF of R and Θ (b) Show that the marginal PDF of fol ...

Suppose we form a sample variancenbspfrom a sequence of iid

Suppose we form a sample variance   from a sequence of IID Gaussian random variables and then form another sample variance   from a different sequence of IID Gaussian random variables that are independent from the first ...

Suppose a fair coin is flipped n times and the random

Suppose a fair coin is flipped n times and the random variable Y counts the number of times heads occurs. What is the entropy of Y in bits?

Let xn be a wide sense stationary discrete random process

Let X[n] be a wide sense stationary, discrete random process with autocorrelation function  and let C be a constant (a) Find the autocorrelation function for the discrete random process  (b) Are   independent? Uncorrelat ...

Supposenbspnbspare a sequence of independent and

Suppose   are a sequence of independent and exponentially distributed random variables with Assuming that is an odd number    for some integer K ): (a) Find the PDF of the median of the sequence. (b) Find the expected va ...

In order to save costs a firm issued a guideline that fax

In order to save costs, a firm issued a guideline that fax transmissions of 10 pages ormore should be sent by 2-day mail instead. Exceptions are allowed but they want theaverage to be 10 or below. The firm examined 35 ra ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate