The Big Wave Surf Shop sells 8 ounce containers of sunscreen for $8 each. The total daily cost associated with the sale of this
1 answer:
Answer:
The shop’s profit if it sold 150 units of sunscreen yesterday is $1000
Step-by-step explanation:
The total daily cost associated with the sale of this item yesterday was $200.
Cost of 1 unit = $8
So, Cost of 150 units =
=
So, revenue = $1200
Cost = $200
So Profit = Revenue - Cost
Profit = $1200-$200
Profit = $1000
Hence the shop’s profit if it sold 150 units of sunscreen yesterday is $1000
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Using the t-distribution, it is found that the data does not provide convincing evidence that the mean number is greater when the coupons were addressed to a female.
<h3>What are the hypothesis tested?</h3>At the null hypothesis, it is tested if there is no difference, that is, the mean is of 0, hence:
At the alternative hypothesis, it is tested if the mean number is greater for females, that is, the mean is greater than 0, hence:
The test statistic is given by:
The parameters are:
is the sample mean.
is the value tested at the null hypothesis.
- s is the standard deviation of the sample.
- n is the sample size.
In this problem, the parameters are given as follows:
.
Hence, the test statistic is given by:
t = 2.23
<h3>What is the conclusion?</h3>Considering a <em>right-tailed test</em>, as we are testing if the mean is greater than a value, with a <em>significance level of 0.01 and 50 - 1 = 49 df</em>, the critical value is given by .
Since the test statistic is less than the critical value for the right-tailed test, the data does not provide convincing evidence that the mean number is greater when the coupons were addressed to a female.
More can be learned about the t-distribution at brainly.com/question/26454209