3. Consider a chain of clothing stores The chain has 4 locations (som"-4). The chain introduces a line of clothes by a n

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3 Consider A Chain Of Clothing Stores The Chain Has 4 Locations Som 4 The Chain Introduces A Line Of Clothes By A N 1 (18.6 KiB) Viewed 26 times

3. Consider a chain of clothing stores The chain has 4 locations (som"-4). The chain introduces a line of clothes by a new designer. After 1 month, the sample statistics of sales of the new line at the 4 stores are: Mcan - 58.560 Standard Deviation - $ 1.200 The chain needs the sales of any designer to be at least $10,000 per month for it to profitable to keep the line in stock So, the chain tests the null hypothesis that the population (ie, over all months of a yeur) average monthly sales will be $10,000 against the alternative hypothesis that the population average will be less than $10,000 they use a level of significance - .05). Will they reject the null hypothesis? Show your work. (5)