1)According to past record the average daily sales for a sporting goods store was $3456.00. After a new advertising campaign, the manager wants to see if the average daily sales have changed. A random sample of 20 days gives a sample mean of 3655 with a standard deviation of $458. Daily sales are assumed to be distributed normal.
a)Explain the underlying population under consideration
b)Write down the given information using correct symbols
3456= ------------------; 3655= -----------------------; 458= -----------------
c)Test to see if there is enough evidence to show that the average daily sale after the advertising is changed at 5% level of significance.
d)Find the p-value and interpret it; P-value = --------; Interpretation:
1 answer