The Manufacturer Of An Mp3 Player Wanted To Know Whether A 10 Reduction In Price Is Enough To Increase The Sales Of Its 1 (19.68 KiB) Viewed 33 times
The Manufacturer Of An Mp3 Player Wanted To Know Whether A 10 Reduction In Price Is Enough To Increase The Sales Of Its 2 (25.48 KiB) Viewed 33 times
The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is enough to increase the sales of its product. To Investigate, the owner randomly selected eight outlets and sold the MP3 player at the reduced price. At seven randomly selected outlets, the MP3 player was sold at the regular price. Reported below is the number of units sold last month at the regular and reduced prices at the randomly selected outlets. Assume the population variances are equal. Hint The reduced price is considered population 1. 115 141 125 96 Regular price 138 122 88 Reduced price 138 135 88 115 141 125 96 121
b. Compute the test statistic. (Round your answers to 2 decimal places.) Test statistic c. Compute the p-value. (Round your answer to 4 decimal places.) p-value
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!