Assignment 4: Final Project
Probability and Hypothesis Testing
Your final project entails systematic extraction of decision-aiding insights from a dataset (SampleDataSet.xlsx) provided to you in the Doc Sharing area. The goal of this project is to provide you with hands-on experience in conducting and interpreting different types of function-wise statistical analysis. The focus of your analysis will be on the marketing strategy and analysis-related topics. At times, you will be expected to conduct additional research on topics that are not adequately covered in your text, for example, data due diligence.
In this segment, you will estimate simple probability and test hypotheses using the provided SampleDataSet.
Probability: Find the Region variable in the SampleDataSet. Using SampleDataSet, create a frequency distribution or a histogram. Based on the frequency distribution or histogram, estimate the probability associated with each region.
Test the following hypotheses:
Hypothesis 1: Age (of residents) of Region 1 > Age of Region 7
Hypothesis 2: Wealth score of mail donors ≥ Wealth score of mail nondonors
Specify your hypothesis completely in terms of null and alternative; detail your findings and conclusions.