Mathematics, 20.12.2019 23:31 ashleyremon901
Paired t‐test for mean comparison with dependent samples to study the effects of an advertising campaign at a supply chain, several stores are randomly selected with the following observed before‐ and after‐advertising monthly sales revenues:
store number 1 2 3 4 5
old sales revenue (mil. $) 5.2 6.5 7.2 5.7 7.6
new sales revenue (mil. $) 6.4 7.8 6.8 6.5 8.2
let μ₁ and μ₂ be the means of old and new sales revenues, both in millions of dollars per month.
(a) at α = 0.05, test h0: μ2 ≤ μ1 versus h1: μ2 > μ1. sketch the test. interpret your result.
(b)sketch and find the p‐value of the test. would you reject h0 if α = 0.01?
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