answer these questions using the datasets provides (excell sheets included) EVERY STUDENT HAS DIFFERENT DATA SET ON EXCELL , YOU have to ACCESS MINE WITH MY ID 12100388

__Dataset 1__

Market research company ABC surveyed a group of 100 people

Some people were given the old version of a product and asked “would you buy it”

Some other people were given the new version of a product and asked “would you buy it”

The dataset is the results of the survey

__Dataset 2__

Market research company DEF surveyed a group of 100 people

Some people were given the old version of a product and asked “How much would you pay ”

Some other people were given the new version of a product and asked “How much would you pay”

The dataset is the results of the survey

__Dataset 3__

Market research company GHI surveyed a group of 100 people

The survey questions were

1) How much has your weekly income changed because of the Corona virus

2) How much would you pay for the product

Dataset is the questions and answers to the survey above.

__Question 1__

a) Paste in the descriptive statistics into the word file. The descriptive sample statistics let you investigate the relationship between the variables “Which version?” and “would you buy ?” using the sample

b) Describe the relationship between the variables without using any numbers

c) Describe the relationship between the two variables using one of the following numbers, choose the correct option

· The difference between sample means –

· The difference between sample proportions –

· The correlation coefficient *r*

__Question 2__

a) Paste the descriptive sample statistics into the word file. The descriptive statistics let you investigate the relationship between the variables “which version?” and “How much would you pay?” using the sample

b) Use the output in part (a) to describe the relationship between the two variables, do not use any numbers in your discussion

c) Also describe the relationship by using one of the following numbers, select the correct option

· The difference between sample means –

· The difference between sample proportions –

· The correlation coefficient *r*

__Question 3__

a) Paste in the descriptive statistics and the scatterplot into the word file. The descriptive sample statistics let you investigate the relationship between the variables “Change in income?” and “How much would you pay?” using the sample

b) Describe the relationship between the variables without using any numbers

c) Describe the relationship between the variables using one of the following numbers, select the correct option

· The difference between sample means –

· The difference between sample proportions –

· The correlation coefficient *r*

d) provide an equation that lets you predict the how much they would pay Y given the change in income X

e) Use the information in part (d) to predict the how much they pay if the change in income is -100

__Question 4__

a) Just considering the people that have the new version

i) What is the estimate of the population average of the amount they would pay?

ii) What is the standard error of this estimate.

b) Just considering the people that have the old version

i) What is the estimate of the population average of the amount they would pay?

ii) What is the standard error of this estimate.

__Question 5__

a) Just considering the people that have the new version find a 95% confidence interval for the proportion of people that would buy the product

b) Just considering the people that have the old version find a 95% confidence interval for the proportion of people that would buy the product

__Question 6__

a) Paste in the computer output that measures evidence for the claim there is a relationship between the variables “which version?” and “would you buy?” if you consider the whole population

b) Make suitable comments about the output in part (a)

c) paste in the output that gives two cases where each case is a summary that lets you see the relationship between the variable “which version?” and “would you buy?”

d) Consider the two cases in part c) which case would have the lower p value , give a reason for your answer

__Question 7__

a) Paste in inferential statistics that measure evidence for the claim there is a relationship between the variables “which version?” and “How much would you pay?” if you consider the whole population

b) Make suitable comments about the output in part (a)

c) paste in the output that gives two cases where each case is a summary that lets you see the relationship between the variable “which version?” and “How much would you pay?”

d) Consider the two cases in part c) which case would have the lower p value , give a reason for your answer

__Question 8__

a) Paste in computer output that measure evidence for the claim there is a relationship between the variables “change in income?” and “How much would you pay?” if you consider the whole population

Hint: inferential statistics measure evidence for a claim.

b) Make suitable comments about the output in part (a)

c) paste in the output that gives two cases where each case is a summary that lets you see the relationship between the variable “change in income?” and “how much would you pay?”

d) Consider the two cases in part c) which case would have the lower p value , give a reason for your answer

__Question 9 __

Paraphrase the content of one or more of the videos and explain why statistics is useful in business .

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