How can the table of random numbers be useful in decideing wether to increase the price of food in a restrnt?

Question

i have to decide wether to increase the price of food products/ or decrease the size while retaining the price? this is just for a school assignment. tnx

Answer 1

If it's supposed to be a simple random sample here's what you do:

Choose a line (any line) in the table and take the first two numbers and write them down or seperate them from the other numbers (w/ a vertical line). Make numbers 0-49 be for increasing the price and 50-99 for decreasing the price. I don't know how much you want to repeat this but the sample has to be more than 30.

Remember that 00=0, 01=1, 02=2, etc.

I just took Statistics, hope this helps.