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Boyd_​BA 310_​Homework 5

<p>Part A:</p><ol><li><p>The p-value is 0. Based off this analysis the null hypothesis should be rejected. Due to the p-value (0) being less than the standard significance level (0.05), there is adequate evidence to conclude that the true average total price is not equal to 15.</p></li><li><p>The difference of total price average between France and the United Kingdom is quite significant. The p-value in this case is .001 and 0. This leads us to conclude that the spending patterns in these countries are very different.</p></li></ol><p>Part B:</p><p>Hi,</p><p>I've conducted the data analysis you requested. Here are the main points of my KNIME workflow:</p><ol><li><p>With high confidence, based off of the online retail data, the current average total price is concluded to be significantly different from the $15 benchmark you mentioned earlier. At our current average we are not meeting the projected $15 total transaction price. The actual average is significantly different based on the range given which is from $13.49-$22.71.</p></li><li><p>This analysis further showed the significant difference between the average total price of transaction between France and the UK. The average total transaction prices has one country almost double the amount then the other country. This leads us to believe a reasonable conclusion which is one country is purchasing more of our product than the other.</p></li></ol><p>Let me know if you need more explanation or statistical interpretation. </p><p>Hope this helps!</p>

Part A:

  1. The p-value is 0. Based off this analysis the null hypothesis should be rejected. Due to the p-value (0) being less than the standard significance level (0.05), there is adequate evidence to conclude that the true average total price is not equal to 15.

  2. The difference of total price average between France and the United Kingdom is quite significant. The p-value in this case is .001 and 0. This leads us to conclude that the spending patterns in these countries are very different.

Part B:

Hi,

I've conducted the data analysis you requested. Here are the main points of my KNIME workflow:

  1. With high confidence, based off of the online retail data, the current average total price is concluded to be significantly different from the $15 benchmark you mentioned earlier. At our current average we are not meeting the projected $15 total transaction price. The actual average is significantly different based on the range given which is from $13.49-$22.71.

  2. This analysis further showed the significant difference between the average total price of transaction between France and the UK. The average total transaction prices has one country almost double the amount then the other country. This leads us to believe a reasonable conclusion which is one country is purchasing more of our product than the other.

Let me know if you need more explanation or statistical interpretation.

Hope this helps!

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