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show the output for all questions in an excel worksheet. This is really important!

QUESTION 1

A small business pays health insurance for its employees. According to a recent estimate, the average cost that employers pay for health insurance is μ=$4000 per year for a single employee in this industry. The manager of the small business is concerned that their costs are significantly different than the industry average. Data from a sample of employees is used.

Use data from "insurance" in Excel sheet provided.

Which statistical test should you run?

		One-sample t test
		Independent-samples t-test
		Paired-samples t-test
		ANOVA

QUESTION 2

A small business pays health insurance for its employees. According to a recent estimate, the average cost that employers pay for health insurance is μ= $4000 per year for a single employee in this industry. The manager of the small business is concerned that their costs are significantly different than the industry average. Data from a sample of employees is used.

Use data from "insurance" in Excel sheet provided to run the appropriate statistical test. Use α=0.01 . What do you conclude? Select ALL that apply!

		The result was statistically significant.
		The p-value was less than alpha.
		The result was NOT statistically significant.
		The p-value was NOT less than alpha

QUESTION 3

A small business pays health insurance for its employees. According to a recent estimate, the average cost that employers pay for health insurance is μ= $4000 per year for a single employee in this industry. The manager of the small business is concerned that their costs are significantly different than the industry average. Data from a sample of employees is used.

Does this small business pay more or less than the average business in their industry? How much more or less?

Use data from the sheet "insurance"

		The business pays MORE than the average business in their industry.
		The mean difference was 501.9
		The mean difference was 2.9713E-07
		The business pays LESS than the average business in their industry.

QUESTION 4

A bank wants to know if the enrollment for new savings accounts has improved at various branches after offering a free iPhone X to customers. Use the data from "iphoneX" sheet in excel

Which of these is correct? More than one answer is possible.

		There are 31 observations.
		The correct statistical test is an independent-samples t-test.
		The correct statistical test is a paired-samples t-test.
		There are 30 observations.

QUESTION 5

A bank wants to know if the enrollment for new savings accounts has improved at various branches after offering a free iPhone X to customers. Use the data from "iphoneX" sheet in excel

Run the appropriate statistical test with α=0.05. Which of the following are correct? More than one answer is possible.

		The test was NOT statistically significant at α=0.05
		There was an increase of 0.7 people enrolled on average in a new savings account after offering a free iPhone X.
		The test was statistically significant at α=0.05
		There was a decrease of 0.7 people enrolled on average in a new savings account after offering a free iPhone X.

QUESTION 6

A bank wants to know if the enrollment for new savings accounts has improved at various branches after offering a free iPhone X to customers.

Use the data from "iphoneX" sheet in excel

Which of the following is the correct p-value used for the statistical test?

		0.9229
		0.1876
		2.0452
		0.05

QUESTION 7

A business analyst wants to know if a new website design compared to an old website design is showing increased page views per visit. Two different samples of customers are randomly sent to one of two different websites, offering the same products, but with different designs. Use data from "website" sheet in excel. Is there a difference in average page views between the new and old website design?

Which is the correct statistical test?

		Free-samples tea test
		Independent-samples t-test
		One-sample t-test
		Paired-samples t-test

QUESTION 8

A business analyst wants to know if a new website design compared to an old website design is showing increased page views per visit. Two different samples of customers are randomly sent to one of two different websites, offering the same products, but with different designs. Is there a difference in average page views between the new and old website design?

Use data from "website" sheet in excel. Run the appropriate statistical test using α=0.01 . Which of the following are true? More than one answer is possible.

		The new design has 44.66 page views higher on average than the old design.
		There was a significant difference in average page views between new and old designs.
		The new design is not as effective as the old design, based on average number of page views.
		There was no significant difference in average page views between designs.

QUESTION 9

A business analyst wants to know if a new website design compared to an old website design is showing increased page views per visit. Two different samples of customers are randomly sent to one of two different websites, offering the same products, but with different designs. Is there a difference in average page views between the new and old website design?

Use data from "website" sheet in excel. Which of the following was the p-value you used for this statistical test?

		1.9847
		-44.66
		2.00676E-11 (same as 2 x10-11 or 0.00000000002007)
		0.01

QUESTION 10

A consulting company was tasked with identifying which market segment would be more profitable, labeled as Segment A or Segment B. A survey was created showing a product to the two different segments, and respondents were asked to rate the product on a scale from 1 to 10 (1 worst, 10 best). Use data from "segment" sheet.

Which of the following are true? More than one answer is correct.

		We have enough sample size n to perform a t-test.
		The correct test would be an independent-samples t-test.
		Segment 1 and Segment 2 represent paired groups of before and after.
		The correct test would be a paired-samples t-test.

QUESTION 11

Run the correct test using α=0.10 . Which is the correct conclusion?

HINT: Is the data ready to run in excel? You might need to clean the data FIRST so Excel will recognize it... ;)

		There is no statistically significant difference between Segments A and B.
		Cannot run this test, data not normal or not enough sample size.
		Cannot run this test, too tired
		There is a statistically significant difference between Segments A and B.

QUESTION 12

Which of the following are correct? More than one answer is possible.

		The p-value was 0.1217
		Market segment A was higher than market segment B, on average, although it was not statistically significant.
		Market segment B was higher than market segment A, on average, although it was not statistically significant.
		The p-value used was 0.10

QUESTION 13

A firm wanted to know if the cost of acquiring a new customer had decreased after adopting a new marketing campaign. A sample of locations calculated the customer acquisition cost before and after the new marketing campaign. Use data from "campaign" sheet in excel.

Which statistical test should you run?

		Independent-samples t-test
		Paired-samples t-test
		ANOVA
		One-sample t-test

QUESTION 14

Use α=0.05 to run the statistical test. Which of the following are true? More than one answer can be correct.

HINT: Is the data ready to run in excel? You might need to clean the data FIRST so Excel will recognize it... ;)

		The new marketing campaign was successful. The cost of acquiring a new customer decreased by $6.78 , on average.
		The test showed the difference before and after was not statistically significant.
		The new marketing campaign was NOT successful. The cost of acquiring a new customer increased by $6.78 , on average.
		The test showed the difference before and after was statistically significant.

QUESTION 15

Which of the following are correct? More than one answer is possible.

		There were 31 observations.
		The p-value was 8.59416E-06 (same as 8.6 x 10-6 or 0.0000086)
		The p-value was greater than 1.
		The alpha level of significance was α=0.05 for this test.