I need help on #6 please
1 answer:
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Answer:
The p-value of the test is 0.023.
Step-by-step explanation:
In this case we need to determine whether the addition of several advertising campaigns increased the sales or not.
The hypothesis can be defined as follows:
<em>H₀</em>: The stores average sales is $8000 per day, i.e. <em>μ</em> = 8000.
<em>Hₐ</em>: The stores average sales is more than $8000 per day, i.e. <em>μ</em> > 8000.
The information provided is:
As the population standard deviation is provided, we will use a z-test for single mean.
Compute the test statistic value as follows:
The test statistic value is 2.
Decision rule:
If the p-value of the test is less than the significance level then the null hypothesis will be rejected.
Compute the p-value for the two-tailed test as follows:
*Use a z-table for the probability.
The p-value of the test is 0.023.
