Please view to attached docs for more instructions. Please use attached template. Imagine you are working in the marketing department of a company. Your supervisor assumes that if the c
Please view to attached docs for more instructions. Please use attached template.
Imagine you are working in the marketing department of a company. Your supervisor assumes that if the
company spends more on digital advertisements it would lead to an increase in sales. In fact, she hopes
that doubling the budget for digital advertising will result in daily sales that are greater than $10,000. She
wants to solve the problem at hand and asks you to investigate. To verify this assumption, the marketing
department will raise the digital advertisement budget for a six-month period, then analyze the collected
data at the end of that period.
You collect monthly data from the past six months and then randomly sample 30 days. The results of your
sample and your calculations are shown in the Excel file provided in the assignment instructions.
Write a two to three (2–3) page report using the provided template in which you:
1. Construct a box-and-whisker plot for the daily sales.
2. Copy the sample mean, median, and standard deviation for the daily sales.
3. Copy the 95% Confidence Interval for the daily sales.
4. Conduct a hypothesis test to verify if the claim that the mean daily sales is greater than $10,000
is supported. Clearly state the logic of your test, the calculations, and the conclusion of your test.
5. Provide the following discussion based on the conclusion of your test:
a. If you conclude that the mean daily sales is greater than $10,000, provide three (3)
possible causes. Share marketing strategies that will support this upward trend the
company is experiencing.
Or
b. If you conclude that the claim of mean daily sales is not greater than $10,000 is not
supported or justified, provide a detailed explanation to your supervisor of how the
company can increase daily sales. Include marketing strategies that will support an
increase in daily sales. Include your speculation on the reason(s) behind the claim.
Week 9 Assignment Template
Name:
Title of Presentation:
Write a two to three (2–3) page report in which you:
1. Construct a box-and-whisker plot for the provided data set. Copy each of the values needed to construct a box-and-whisker plot from the Excel worksheet provided and enter those numbers below.
Minimum |
Maximum |
Quarter 1 (Median of first half of the data set) |
Quarter 2 (Median of data set) |
Quarter 3 (Median of second half of the data set |
Create the box-and-whisker plot in Excel and include a screen shot of the box-and-whisker plot below.
1. Copy the sample mean, median, and standard deviation from the provided Excel Worksheet and enter those below.
Mean |
Median |
Standard Deviation |
1. Copy the 95% Confidence Interval from the Excel Worksheet provided and enter that below.
Lower Limit |
Upper Limit |
1. Use the results from the hypothesis test in the Excel worksheet provided to fill in the table below. Clearly state the logic of your test, the calculations, and the conclusion of your test.
Null Hypothesis ( |
|
Alternative Hypothesis ( |
|
What type of Test Statistic did you use and why? |
|
Value of Test Statistic |
|
P-value |
|
Critical Value |
|
Conclusion: Is the claim supported? Why or why not? |
1. Evaluate the results of the hypothesis test and communicate the suggested solutions based on those results. (This section should be 1–2 pages). Provide the following discussion based on the conclusion of your test:
4. Provide a detailed explanation to your supervisor of how the results address the concern.
4. What is your suggested solution based on the results?
4. What decisions should be made based on the results? What should the next steps be?
Page 1 of 1
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Calculator
Sample Number | Daily Sales | Minimum | 8037.00 | ||||||||||
1 | 13,337 | Maximum | 15934.00 | ||||||||||
2 | $10,337 | Q 1 | 9341.5 | ||||||||||
3 | $9,337 | Q 2 | 10337 | ||||||||||
4 | $9,977 | Q 3 | 10356.75 | ||||||||||
5 | $12,786 | ||||||||||||
6 | $10,337 | ||||||||||||
7 | $10,345 | ||||||||||||
8 | $10,359 | ||||||||||||
9 | $11,048 | ||||||||||||
10 | $8,037 | ||||||||||||
11 | $10,340 | ||||||||||||
12 | $11,340 | ||||||||||||
13 | $10,350 | ||||||||||||
14 | $9,356 | Student should Use t-test | |||||||||||
15 | $9,900 | Mean | 10344.17 | ||||||||||
16 | $15,934 | Median | 10337.0000 | ||||||||||
17 | $9,334 | Sample Standard Deviation | 1575.629619 | ||||||||||
18 | $8,999 | n= | 30 | ||||||||||
19 | $10,453 | df= | 29 | ||||||||||
20 | $10,337 | Confidence Level= | 0.95 | ||||||||||
21 | $10,336 | t= | 2.045 | ||||||||||
22 | $9,339 | E= | 588.349769 | ||||||||||
23 | $10,339 | Confidence Interval Lower Limit | 9755.81690 | ||||||||||
24 | $8,903 | Confidence Interval Upper Limit | 10932.5164 | ||||||||||
25 | $9,454 | Null Hypothesis | µ=10,000 | ||||||||||
26 | $8,346 | Alternative Hypothesis | µ>10,000 | ||||||||||
27 | $9,349 | What type of Test Statistic did you use and why? | Hint: We use a t-test if the population standard deviation is unknown and we use a z-test if the population standard deviation is known. | ||||||||||
28 | $9,338 | ||||||||||||
29 | $10,339 | ||||||||||||
30 | $12,339 | ||||||||||||
Conclusion: Is the claim supported? Why or why not? | Hint: If the p-value is greater than the significance level, we fail to reject the null so there is not enough evidence to reject the hypothesis; we cannot support this claim. If the p-value is less than the significance level, we reject the null hypothesis so we can support this claim. | ||||||||||||
If student uses z-test; provide feedback and grade for content. | |||||||||||||
Hypothesis Test | |||||||||||||
Null Hyp: | m | = | 10000 | ||||||||||
= | Alt Hyp: | m | > | 10000 | |||||||||
≥ | |||||||||||||
≤ | significance level = | 0.05 | |||||||||||
≠ | test statistic = | 1.19640 | |||||||||||
< | critical value = | 1.69913 | |||||||||||
> | p-value = | 0.12062 | |||||||||||
Since | 0.1206159025 | > | 0.05 | we | fail to reject | the null: | m | = | 10000 |
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