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
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?© BrainMass Inc. brainmass.com December 24, 2021, 10:43 pm ad1c9bdddf
The solution is very helpful to understand the concept of these types ...
This solution is comprised of a detailed explanation of Testing Research Hypotheses. In this solution, step-by-step explanation of this complicated topic provides students with a clear perspective of Testing Research Hypotheses. Step by step calculations are given.