Testing Research Hypotheses
Is Correlational study a good choice?
July 9, 2019Hypothesis Testing and Assessing Levels of Significance
July 9, 2019Please help with the following problem.
In playing the Lemonade Stand Game, Bob decreased his price per cup by two cents, from $.27 per cup to $.25 per cup. At the .05 level of significance, did net revenue increase? The datafor weeks 3 and 4 are presented below; there were 30 observations in each week.
Items to compare:
Price per Xup
Week 3 ; Week 4
.25 ; .27
Stand. Del
3.77 ; 4.52
Ave. Daily Net Revenue
$2.25 ; $2.10
Describe the steps in testing a research hypothesis. What formula should we use to make the calculation? Make the calculation. What is your decision regarding the null hypothesis?
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