In: Statistics and Probability
Marketing research
the answer should span between 1/2 and 1 document page.
Essay questions:
A convenience store chain wants to determine the relationship between the income of customers and the frequency of visiting stores in the chain. To answer your client’s question, you would do a test of hypothesis. State the null and alternative hypotheses for this particular study. Which significance level alpha would you select? If both income and “frequency of store visits” were measured on ordinal scales, how would you analyze the relationship between these two variables? Set up an example to illustrate your answer in the case of ordinal-scale variables and explain what kind of result would be evidence of this hypothetical relationship.