The manufacturer of an MP3 player wanted to know whether a 10% reduction in price is enough to increase the sales of its
Posted: Sun Jul 10, 2022 10:16 am
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 soldthe MP3 player at the reduced price. At seven randomly selectedoutlets, the MP3 player was sold at the regular price. Reportedbelow is the number of units sold last month at the regular andreduced prices at the randomly selected outlets.
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At the .01 significance level, can the manufacturer conclude thatthe price reduction resulted in an increase in sales?
b. Compute the teststatistic. (Round intermediate answers to 3 decimalplaces and round the final answer to 2 decimalplaces.)
c. Computethe p-value. NOTE: P-value calculators areavailable through online search. (Round your answer to4 decimal places.)
Click here for the Excel Data File
At the .01 significance level, can the manufacturer conclude thatthe price reduction resulted in an increase in sales?
b. Compute the teststatistic. (Round intermediate answers to 3 decimalplaces and round the final answer to 2 decimalplaces.)
c. Computethe p-value. NOTE: P-value calculators areavailable through online search. (Round your answer to4 decimal places.)