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Part 3 (30 marks) Daniella is continuing her evaluation of the data from the MyCakes shop. She found a file containing the price paid for
Part 3 (30 marks) Daniella is continuing her evaluation of the data from the MyCakes shop. She found a file containing the price paid for each chocolate cake over the previous year (see the sheet named 'Part 3 - Revenues'). Mr Sweet also gave her the data collected from a survey of 50 potential customers on the price they might pay for one of the cakes (see the sheet named 'Part 3 - Survey'). Daniella would like to evaluate if it is viable to set the price at 26 per cake, or even at 30 per cake. Part 3a Using the data provided, determine if clients are willing to pay more than 26 per cake with a 95% confidence interval. Determine also if that remains true if charging more than 30 per cake. Perform a Cohen's d test to further understand the difference between the means of the price data (see the sheet named 'Part 3 - Revenues') and the survey data (see the sheet named 'Part 3 - Survey'). (15 marks) Part 3b Discuss the results of your analysis considering the different outcomes, and present them in a form suitable for a business audience. Include a discussion on the
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