Explore BrainMass

Hypothesis test: Company claims meet/exceeding the standard

See attached data file.

The excel file sales data provides data on a sample of customers. An industry trade publication states that the average profit per customer for this industry was $4500. Using a test of this hypothesis, can this company claim that they are meeting the standard? Can this company claim that they are exceeding the standard?


Solution Summary

This solution is comprised of detailed explanation of the relevant hypothesis tests. Interpretations based on the findings are included.