Question
The Minister of Industry and Trade is interested in the characteristics of local businesses. He decides to concentrate on businesses in the Parramatta CBD and
The Minister of Industry and Trade is interested in the characteristics of local businesses. He decides to concentrate on businesses in the Parramatta CBD and the Sydney CBD. He employs a research company to survey 70 local businesses. This was carried out and the following variables recorded.
Column 1 Profit What was your profit?
Column 2 Advertising How much money was spent on advertising in the financial year?
Column 3 Employee How many employees work at your business?
Column 4 Age How old is the company (in years)?
Column 5 Type Is the business privately held, publicly traded or a franchise?
(Private = 1, Public = 2, Franchise = 3)
Column 6 Location Where is the company? (1 = Parramatta CBD, 2 = Sydney CBD)
Question 3 (7 marks)
Can we conclude, at a 5% level of significance, that a linear relationship exists between the company's Profit (y) and the amount spent on Advertising (x)?
Can you please work out showing the 6 steps of hypothesis testing and use all calculations/working out, statistical analysis using excel.
E.g. Step 1: Ho:1 = 2
HA:12
Step 6: .We can conclude at the 5% level of significance, that the average profits are different for businesses located in Parramatta CBD and businesses located in Sydney CBD.
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