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    Swanson Co. Amount of Sales

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    2. Over the past five years, the average amount of sales invoices for Swanson Co. is $120. A random sample of 12 sales invoices from this month averaged $112.85 with a standard deviation of $20.80. Conduct test to find out if average sales invoice this month differs from the historical data. Level of significance a = .05

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    Solution Preview

    N = 12
    M = 112.85
    SD = 20.80

    Ho: M = 120
    Ha: M not equal to 120

    Compute standard error of the sample by
    SE = ...

    Solution Summary

    The solution uses a hypothesis testing to test the sales level for Swanson Co.