(Solution Library) Barbara has been working at a beauty counter at Shopper’s Drug Mart (SDM) for 5 years. In her spare time she has also been creating cleansing
Question: Barbara has been working at a beauty counter at Shopper’s Drug Mart (SDM) for 5 years. In her spare time she has also been creating cleansing lotions and exfoliating scrubs using all natural products. After receiving positive feedback from her friends and family about her products, as well as encouragement from SDM, Barbara decides to distribute the products herself through retailers and via the Internet. Barbara knows that convincing a bank to help fund her new business will require more than a few positive testimonials from family and friends. Based on her experience working at SDM, Barbara believes women in her area spend more than the national average on Skins cleansers. This fact could help make her business successful. Barbara would like to be able to support her belief with data to include in a business plan proposal that she would then use to obtain a small business loan. Barbara took a business statistics course while in college and decides to use the hypothesis testing tool she learned. After conducting research she learns that the national average spending by women on skin cleansing products is $94.40 annually. In other words, she will assume the average spending in her town is the same as the national average unless she has strong evidence that says otherwise. SDM gives Barbara a random sample of the spending on skin cleansers by 50 women based on records from their spending using the "Optimum" card. The data is in the file Assignment #2 data.xls, on the "Cleansers Spending" worksheet.
- Can Barbara infer from these data that the mean amount spent on fragrance products is more than the national average?
Deliverable: Word Document 