Question
Hi, I am working on a team assignment for my Advanced Data Analytics course and i am covering the part C: c. Your supervisor insists
Hi, I am working on a team assignment for my Advanced Data Analytics course and i am covering the part C:
"c. Your supervisor insists that people who buy gold are more conservative and as such people who spent an above aveage amount on gold in last 2 years would have more in store purchases. Justfy/refute the statement using appopriate statistical tests. Hint: Use your knowledge of dummy variables. For full credit, provide a) Output of test(s), b) Your justification/rebuttal"
I have created a dummy variable called "LoveGold" that shows a 1=bought more than average amount of gold, 0=not bought above average amount of gold. And am trying to compare it to the "NumStorePurcashes" to answer this question. However I am unsure what type of data analysis test to run on excel and if I have set up the dummy variable correctly. Do you have any suggestions or help on doing so?
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