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59 cents 69 cents 79 cents 89 cents 964 953 942 920 972 962 968 975 960 950 959 955 960 954 937 945 948 945 941 918 925 919 915 906 10.61 The...
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10.61 The per-store daily customer count (i.e., the mean number of customers in a store in one day) for a nationwide convenience store chain that operates nearly 10,000 stores has been steady, at 900, for some time. To increase the customer count, the chain is considering cutting prices for coffee beverages. The question to be determined is how much to cut prices to increase the daily customer count without reducing the gross margin on coffee sales too much. You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the national average of 900. In 6 of the stores, the price of a small coffee will now be \$0.59, in 6 stores the price of a small coffee will now be \$0.69, in 6 stores, the price of a small coffee will now be \$0.79, and in 6 stores, the price of a small coffee will now be \$0.89. After four weeks of selling the coffee at the new price, the daily customer count in the stores was recorded and stored in .

a. At the 0.05 level of significance, is there evidence of a difference in the daily customer count based on the price of a small coffee?

59 cents 69 cents 79 cents 89 cents 964 953 942 920 972 950 937 918 962 959 945 925 968 955 948 919 975 960 945 915 960 954 941 906 10.61 The per-store daily customer count (i.e., the mean number of customers in a store in one day) for a na±onwide convenience store chain that operates nearly 10,000 stores has been steady, at 900, for some ±me. To increase the customer count, the chain is considering cu²ng prices for coFee beverages. The ques±on to be determined is how much to cut prices to increase the daily customer count without reducing the gross margin on coFee sales too much. You decide to carry out an experiment in a sample of 24 stores where customer counts have been running almost exactly at the na±onal average of 900. In 6 of the stores, the price of a small coFee will now be \$0.59, in 6 stores the price of a small coFee will now be \$0.69, in 6 stores, the price of a small coFee will now be \$0.79, and in 6 stores, the price of a small coFee will now be \$0.89. A³er four weeks of selling the coFee at the new price, the daily customer count in the stores was recorded and stored in . a. At the 0.05 level of signi´cance, is there evidence of a diFerence in the daily customer count based on the price of a small coFee?

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