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Lab 3 . 3 Excel: Analysis Questions In previous Chapter 3 labs, you determined that the average sales transaction was different between online and in
Lab Excel: Analysis Questions In previous Chapter labs, you determined that the average sales transaction was different between online and inperson sales, but in this lab you actually assessed if those differences were significantly different using a hypothesis test. Why is statistically testing the differences important when it comes to making business decisions based on these results? Assume that alpha is adjusted from to With a alpha, is a Type II error more or less likely? What impact does that have on potential decisionmaking regarding this ttest?
Lab Excel: Analysis Questions
In previous Chapter labs, you determined that the average sales transaction was different between online and inperson sales, but in this lab you actually assessed if those differences were significantly different using a hypothesis test. Why is statistically testing the differences important when it comes to making business decisions based on these results?
Assume that alpha is adjusted from to With a alpha, is a Type II error more or less likely? What impact does that have on potential decisionmaking regarding this ttest?
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