Table of contents
- 1. Introduction to Statistics53m
- 2. Describing Data with Tables and Graphs2h 1m
- 3. Describing Data Numerically2h 8m
- 4. Probability2h 26m
- 5. Binomial Distribution & Discrete Random Variables3h 28m
- 6. Normal Distribution & Continuous Random Variables2h 21m
- 7. Sampling Distributions & Confidence Intervals: Mean3h 37m
- Sampling Distribution of the Sample Mean and Central Limit Theorem19m
- Distribution of Sample Mean - Excel23m
- Introduction to Confidence Intervals22m
- Confidence Intervals for Population Mean1h 26m
- Determining the Minimum Sample Size Required12m
- Finding Probabilities and T Critical Values - Excel28m
- Confidence Intervals for Population Means - Excel25m
- 8. Sampling Distributions & Confidence Intervals: Proportion1h 33m
- 9. Hypothesis Testing for One Sample3h 32m
- 10. Hypothesis Testing for Two Samples4h 49m
- Two Proportions1h 12m
- Two Proportions Hypothesis Test - Excel28m
- Two Means - Unknown, Unequal Variance1h 2m
- Two Means - Unknown Variances Hypothesis Test - Excel12m
- Two Means - Unknown, Equal Variance15m
- Two Means - Unknown, Equal Variances Hypothesis Test - Excel9m
- Two Means - Known Variance12m
- Two Means - Sigma Known Hypothesis Test - Excel21m
- Two Means - Matched Pairs (Dependent Samples)42m
- Matched Pairs Hypothesis Test - Excel12m
- 11. Correlation1h 24m
- 12. Regression1h 59m
- 13. Chi-Square Tests & Goodness of Fit2h 31m
- 14. ANOVA2h 1m
7. Sampling Distributions & Confidence Intervals: Mean
Introduction to Confidence Intervals
Struggling with Statistics for Business?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Based on the analysis of the Classic Burger sales by coupon usage, which of the following statements is correct?
A
Coupons have no effect on Classic Burger sales.
B
The data is insufficient to determine any relationship between coupons and Classic Burger sales.
C
Classic Burger sales decrease when coupons are used.
D
There is evidence that coupons have a significant effect on Classic Burger sales.
Verified step by step guidance1
Step 1: Begin by identifying the type of analysis required to determine the relationship between coupon usage and Classic Burger sales. This typically involves statistical methods such as hypothesis testing or regression analysis.
Step 2: Formulate the null hypothesis (H₀) and the alternative hypothesis (H₁). For this problem, H₀ could be 'Coupons have no effect on Classic Burger sales,' and H₁ could be 'Coupons have a significant effect on Classic Burger sales.'
Step 3: Collect and analyze the data. If the data includes sales figures with and without coupon usage, calculate relevant statistics such as means, variances, or proportions for each group. Use appropriate statistical tests, such as a t-test or chi-square test, depending on the data type.
Step 4: Evaluate the p-value or test statistic obtained from the analysis. Compare it to the significance level (e.g., α = 0.05). If the p-value is less than α, reject the null hypothesis and conclude that coupons have a significant effect on sales.
Step 5: Interpret the results in the context of the problem. If the null hypothesis is rejected, it supports the statement 'There is evidence that coupons have a significant effect on Classic Burger sales.' Ensure the conclusion aligns with the statistical evidence provided.
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Multiple Choice
Which of the following is NOT a valid method for increasing the precision of a confidence interval?
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Introduction to Confidence Intervals practice set

