SCENARIO 9-8 One of the Biggest Issues Facing E-Retailers Is the Ability

question 163

Short Answer

SCENARIO 9-8
One of the biggest issues facing e-retailers is the ability to turn browsers into buyers.This is measured by the conversion rate,the percentage of browsers who buy something in their visit to a site.The conversion rate for a company's website was 10.1%.The website at the company was redesigned in an attempt to increase its conversion rates.A sample of 200 browsers at the redesigned site was selected.Suppose that 24 browsers made a purchase.
The company officials would like to know if there is evidence of an increase in conversion rate at the 5% level of significance.
-Referring to Scenario 9-8,what critical value should the company officials use to determine the rejection region?

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Definitions:

Book Value

The value of an asset according to its balance sheet account balance. For assets, the value is based on the original cost of the asset less any depreciation, amortization, or impairment costs made against the asset.

Unearned Ticket Revenue

Unearned ticket revenue is money received from ticket sales before the event or service has been provided, considered a liability until the service is rendered.

Season Tickets

Tickets sold for a set of events, usually for a sports season, concerts, or theatre productions, allowing the holder to attend all events in the series.

Football Season

The period during which competitive football games or matches are played, typically on an annual basis.