- 3 The Mean Sales Amount Per Retail Outlet For A Particular Consumer Product During The Past Year Is Found To Be X 1 (162.32 KiB) Viewed 27 times
= = 3. The mean sales amount per retail outlet for a particular consumer product during the past year is found to be X = $3,425 in a sample of n = 25 outlets. Based on sales data for other similar products, the distribution of sales is assumed to be normal and the standard deviation of the population is assumed to be o = $200. Suppose it was claimed that the true sales amount per outlet is least $3,500. Test this claim at the a) 5 percent b) 1 percent level of significance = ANS ( a) RejectHo, b) accept Hol 4. In problem 3, suppose that no assumption was made about the population standard deviation, but that s = $200. Test the claim at the a) 5 percent b) 1 percent level of significance ANS ( a) RejectHo, b) accept H.)