Seitz's list of several hundred business-to-business customers continues to grow. - 23223

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SuperPower

SuperPower

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Request Description

Seitz's list of several hundred business-to-business customers continues to grow. Managers would like to know whether the average dollar amount of sales per transaction per customer has changed from last year to this year. Suppose company accountants sampled 20 customers randomly from last year's records and determined that the mean sales per customer was $2300, with a standard deviation of 500. They sampled 25 customers randomly from this year's files and determined that the mean sales per customer for this sample was $2450, with a standard deviation of 540. Analyze these data and summarize your findings for managers. Explain how this information is can be used by decision makers. Assume that sales per customer are normally distributed.

Here is the extracted data.
Last Year
x¯1 = 2300
s1 = 500
n1 = 20

This Year
x¯2 = 2450
s2 = 540
n2 = 25

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Seitz’s Solutions (All Questions Answered + Formulas).xls
Seitz’s Solut...