Question

Using your hypothesis from task 1.5 , which statement is true about the results obtained from your analysis?

- Copy and paste the columns needed to the Task 5-6 worksheet to the right of the yellow field beginning in cell Q3.
- You can do as many models as you need.
- Place your final model (regression analysis output with ONLY significant variables remaining) beginning in cell (E3). - There should be ONLY one model on the Task 5-6 worksheet.
- Select your answer to the question from the drop down in cell B6.

1.5. What would be the null hypothesis for the population? Profit does not depend on customers' age and customers' ratings.

Answer 1

The question is about conducting statistical analyses, particularly hypothesis testing and regression analysis, to determine the significance of certain variables in a study. This methodology is a key element of college-level statistics courses.

Step-by-step explanation:

The question asks about testing hypotheses and analyzing data, which suggest it is related to statistics, a branch of mathematics. The subject matter involves a step-by-step explanation of hypothesis testing, regression analysis, and the interpretation of statistical results, which are commonly taught at the college level within a statistics or business analytics course.

Hypothesis testing is a statistical methodology used to determine if there is enough evidence to reject a null hypothesis in favor of an alternative hypothesis. It often involves calculating a p-value and comparing it to a predetermined significance level, such as α = 0.05 or α = 0.01.

When performing regression analysis, variables are assessed to identify significant relationships between independent variables (like age or customer ratings) and a dependent variable (such as profit). The final model includes only significant variables, as determined by the p-values associated with each coefficient in the regression output.

When comparing means from different groups, as in the example with science and humanities students' spending, a t-test or ANOVA can be used to decide if there is a significant difference between the group averages.