Random Samples of Several Days' Sales of Handguns Per Day

question 123

Essay

Random samples of several days' sales of handguns per day in three different states are shown below. We are interested in determining whether or not there is a significant difference in the average sales of guns in the three states

a.Compute the overall mean.
b.State the null and alternative hypotheses to be tested.
c.Show the complete ANOVA table for this test including the test statistic.
d.The null hypothesis is to be tested at 95% confidence. Determine the critical value for this test. What do you conclude?
e.
Determine the p-value and use it for the test.

---

Definitions:

Provision For Warranties

An estimate of future costs related to repairing or replacing products under warranty, recognized as a liability on the balance sheet.

Equity Instruments

Financial securities that represent ownership interest in a company, such as stocks.

Business Combination

An occurrence or action where a buyer obtains dominance over one or several companies.

Entry Price

Refers to the initial cost at which an asset, security, or investment is purchased, marking the basis for future financial analysis.