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Question 1. After several semesters of research, you finally decided to launch your own product idea...

Question 1.

After several semesters of research, you finally decided to launch your own product idea online. According to your web hosting service, your clients spend about 14 minutes/week on your website. You believe an increase in the average-time-spend will increase your profits. Therefore, you decided to hire a fellow student to help you with your website. Formulate your hypothesis, identify the appropriate statistical test, and develop the decision rule to determine if your classmate adds value to your website given the following data: sample size: 101, x̄: 17.9, σ: 4.6, and a confidence level of 90%.

Can you please explain the logic to concluding to the correct answer?

Answer Part 1:

Fire your fellow student

or

Keep Your fellow student

BECAUSE.....

Answer Part 2:

a. the statistics suggests that he increase the average-time-spend on you website

b. the statistics suggests that he decrease the average-time-spend on you website

c. the statistics suggests that he doesn't add any value (accept H0)

Solutions

Expert Solution

Let denotes the  average-time-spend on the website after hiring a fellow student.

Part 2) Conclusion : a. the statistics suggests that he increase the average-time-spend on you website

Part 1) Keep Your fellow student

milcah answered 2 days ago
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