Identify a research issue, problem, or opportunity that uses either interval or ratio level data (Recall that ratio level data are those data which have an absolute zero. This includes all forms of money, weight, time, or distance.) Some examples of ratio level data include a team member's 401K fund, a team member's stock portfolio, average price of homes in a section of town, or the price of gas between each team member's community. Some examples of interval level data could be temperature readings in your hometown for a month or Ph readings over a month in your swimming pool. When deciding on a topic, you should keep in mind that we will be testing the data for a one sample test, and in the following week, we will use the same data set for a two sample test, and the last use will be for three or more samples, using the ANOVA procedure. Now, you don't have to use the same data set for all the tests, but it may make the exercise much easier if you create the data set with these tests in mind. If you have difficulty with coming up with an example be sure to ask the question in the main forum.
Create a data set which should contain between 30 and 60 data points. (The reason for 60 is you will need at least that many for the exercise found in Week 3 Learning Team. Recall that you will need interval or ratio level data, terms which are found in Chapter one of your statistics text.)
I have conducted a (One-sample) 5- step hypothesis test on the selling ...
A Complete, Neat and Step-by-step Solution is provided in the attached file.