Test the Claim That $\mu _ { 1 } > \mu _ { 2 }$

question 65

Essay

Test the claim that $\mu _ { 1 } > \mu _ { 2 }$ Assume the two samples are random and independent. Use $\alpha = 0.01 .$ Population statistics: $\sigma _ { 1 } = 45 \text { and } \sigma _ { 2 } = 25$ Sample statisticsstatistics: $\overline { \mathrm { x } } 1 = 630 , \mathrm { n } _ { 1 } = 100 \text { and } \overline { \mathrm { x } } 2 = 615 , \mathrm { n } _ { 2 } = 125$

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Definitions:

Common-size Percent

A technique used in financial analysis where all line items are expressed as a percentage of a common base figure, facilitating comparison between financial periods and companies.

Analysis Amount

The specific value being examined or analyzed in financial or statistical evaluations.

Base Amount

The initial sum of money or reference value from which calculations or comparisons are made.

Net Sales

Net sales are the total revenue from goods or services sold by a company, minus returns, allowances for damaged or missing goods, and discounts.