Question

(1 point) A markket rescarch firm suppllas manufacturers with estimates of the rotail sales of their products from samples of retall stores. Maneting managers are prone to look at the estimate and ianore sampling error. An SRS of 26 stores this year shows mean sales of 66 units of a smal appliance witn a standard deviation of 13.4 units. During the same point n time last year, an SRS or 15 stores had mean sales or 50 858 unts with standard de ation 12.3 unts. A ncrease om 50 858 to 66 Is a rise or about 23% o prone or 13.4 units S or 50.868 unts in 1. Construct a 95% condence interval estimate of re diference μι-μ2, where μι s tne mean of this years sales and μ2 is the mean of last year's sales. 2) (o The mangin of error is 2. Al a0.05 signiicance level is there su ient evitence to shew Ihat sales his year are ditlevent from last yea? O A. No eam parta ret on Preview My Arswers Submit Answens

Answer 1

Solution olution'. Sven data -Here we need to fHnd out the confidence intewal (C.T) where α 66 R, 2 0236 15 t.56 ^ 161. .023 -8 339 from the ea D 66-8. 339 < H,-u2< 66 +8.339 (I3-H)1 (123) 8-339 (b Margin ob eTOY (M) 2.o23 IS

ereore tbe Stictent Salea