Question
A shop owner owns two branches of the same shop established in the downtown of two...
A shop owner owns two branches of the same shop established in
the downtown of two major cities. The owner collected data that
show the monthly revenue of each shop the past 8 months. The data
are provided in the table below:
|
Month |
Shop 1 revenue ($) |
Shop 2 revenue ($) |
|
1 |
51500 |
49190 |
|
2 |
54180 |
50950 |
|
3 |
52180 |
50460 |
|
4 |
55390 |
53210 |
|
5 |
51790 |
57190 |
|
6 |
49070 |
57040 |
|
7 |
54720 |
51070 |
|
8 |
49210 |
52750 |
Consider the sample standard deviation for the shops monthly revenue to be and . Is there any difference in the population means of the revenue? Use 5% significance level and assume equal population variances.
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