Product Markup Narrative A Chain of Jewellery Stores Conducted an Experiment to Investigate

Essay

Product Markup Narrative
A chain of jewellery stores conducted an experiment to investigate the relationship between price and location and the demand for its diamonds. Six small-town stores were selected for the study, as well as six stores located in large suburban malls. Two stores in each of these locations were assigned to each of three item percentage markups. The percentage gain (or loss) in sales for each store was recorded at the end of one month. The data are shown in the accompanying table.
Markup
-Refer to Product Markup Narrative. Find a 95% confidence interval for the difference in mean change in sales for stores in small towns versus those in suburban malls if the stores are using price markup 3.