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    Testing Research Hypotheses

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    Please help with the following problem.

    In playing the Lemonade Stand Game, Bob decreased his price per cup by two cents, from $.27 per cup to $.25 per cup. At the .05 level of significance, did net revenue increase? The data for weeks 3 and 4 are presented below; there were 30 observations in each week.

    Items to compare:

    Price per Xup
    Week 3 ; Week 4
    .25 ; .27

    Stand. Del
    3.77 ; 4.52

    Ave. Daily Net Revenue
    $2.25 ; $2.10

    Describe the steps in testing a research hypothesis. What formula should we use to make the calculation? Make the calculation. What is your decision regarding the null hypothesis?

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