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Judy Ling is an entrepreneur who has a used cars dealership in East York, Toronto. Judy has been operating her business for more than ten
Judy Ling is an entrepreneur who has a used cars dealership in East York, Toronto. Judy has been operating her business for more than ten years and wants to expand its operations. She hired you as a business consultant. She heard that there are some great statistical tools that can help her answer many questions before investing the time and resources into the expansion of her business. Assume the role of the business consultant and answer the following questions: (a) Given Judys business idea, suggest one area of concern to be addressed and explain why you choose it. (2 marks) (b) Develop a one-sample hypothesis related to the concern in part (a). (2 marks) () Explain to Judy what are the risks associated with the hypothesis testing in her case (refer to the Type I and Type || errors) (3 marks)
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