Question

Based on the status quo population parameter value (Opportunity Amount USD 91637.26) and information (or lack thereof) regarding the population standard deviation, you will conduct a one tailed hypothesis test based on a level of significance of alpha=0.05. You will choose between a lower and upper tailed test based on your calculated sample mean: -If your sample mean is lower than the status quo population mean, you will be testing that it has decreased from the norm. -If your sample mean is higher than the status quo population mean, you will be testing that it has increased from the norm. Be sure to state the Null and Alternative Hypotheses, the Test Statistic, the Critical Value, and the Test Conclusion. Explain in words how the conclusion of the test could impact the business.

Opportunity.Number	Supplies.Subgroup	Supplies.Group	Region	Elapsed.Days.In.Sales.Stage	Opportunity.Result	Sales.Stage.Change.Count	Total.Days.Identified.Through.Closing	Opportunity.Amount.USD	Client.Size.By.Revenue	Deal.Size.Category
6003579	Replacement Parts	Car Accessories	Pacific	36	Won	4	6	3000	4	1
6193895	Motorcycle Parts	Performance & Non-auto	Pacific	85	Loss	2	32	77507	1	4
6302462	Shelters & RV	Performance & Non-auto	Pacific	87	Loss	2	25	86808	2	4
6813830	Batteries & Accessories	Car Accessories	Pacific	65	Loss	4	26	355000	1	6
6824867	Motorcycle Parts	Performance & Non-auto	Midwest	43	Won	4	9	1600	4	1
6837544	Batteries & Accessories	Car Accessories	Pacific	35	Loss	5	55	117191	1	5
6892231	Replacement Parts	Car Accessories	Northwest	73	Loss	4	15	39156	1	3
6978782	Shelters & RV	Performance & Non-auto	Midwest	39	Loss	5	45	493000	2	6
7042696	Replacement Parts	Car Accessories	Northwest	61	Loss	3	22	52631	4	4
7101959	Interior Accessories	Car Accessories	Northwest	74	Loss	3	6	60240	1	4
7106427	Batteries & Accessories	Car Accessories	Northwest	16	Loss	2	64	174418	1	5
7220419	Exterior Accessories	Car Accessories	Midwest	67	Loss	3	7	350000	4	6
7227288	Exterior Accessories	Car Accessories	Midwest	74	Loss	2	1	25000	1	3
7227293	Replacement Parts	Car Accessories	Northwest	40	Loss	3	35	99000	1	4
7254613	Shelters & RV	Performance & Non-auto	Pacific	35	Loss	2	39	120000	3	5
7305209	Exterior Accessories	Car Accessories	Pacific	47	Loss	2	26	38753	1	3
7583892	Replacement Parts	Car Accessories	Pacific	54	Won	5	8	6165	1	1
7591583	Batteries & Accessories	Car Accessories	Northwest	16	Loss	2	45	5813	1	1
7657636	Garage & Car Care	Car Accessories	Midwest	52	Won	3	7	46203	1	3
7872502	Interior Accessories	Car Accessories	Pacific	45	Loss	2	5	3000	1	1
7892585	Motorcycle Parts	Performance & Non-auto	Midwest	16	Loss	3	33	50000	1	4
7897420	Motorcycle Parts	Performance & Non-auto	Midwest	8	Won	3	41	235000	1	5
7968158	Shelters & RV	Performance & Non-auto	Pacific	38	Loss	2	10	279026	1	6
8127740	Towing & Hitches	Car Accessories	Northwest	38	Loss	2	5	7228	1	1
8149161	Motorcycle Parts	Performance & Non-auto	Midwest	21	Loss	2	20	23312	1	2
8158105	Motorcycle Parts	Performance & Non-auto	Midwest	28	Won	4	13	160000	1	5
8327470	Interior Accessories	Car Accessories	Midwest	3	Loss	3	32	52000	1	4
8488548	Replacement Parts	Car Accessories	Midwest	7	Loss	4	22	50000	1	4
8536833	Batteries & Accessories	Car Accessories	Midwest	27	Won	1	0	10000	1	2
9560637	Motorcycle Parts	Performance & Non-auto	Pacific	8	Won	3	10	109	1	1
5661353	Motorcycle Parts	Performance & Non-auto	Southeast	85	Loss	4	54	179000	4	5
5977241	Garage & Car Care	Car Accessories	Mid-Atlantic	75	Loss	3	49	175000	3	5
6295684	Garage & Car Care	Car Accessories	Mid-Atlantic	82	Loss	3	30	150000	1	5
6910718	Exterior Accessories	Car Accessories	Northeast	79	Loss	2	9	50000	1	4
7154102	Exterior Accessories	Car Accessories	Northeast	58	Loss	5	20	200000	4	5
7349990	Batteries & Accessories	Car Accessories	Northeast	34	Loss	7	37	105000	1	5
7421525	Motorcycle Parts	Performance & Non-auto	Mid-Atlantic	58	Loss	3	2	50000	1	4
7902934	Tires & Wheels	Tires & Wheels	Mid-Atlantic	41	Loss	2	8	110000	1	5
7941247	Replacement Parts	Car Accessories	Northeast	45	Won	4	3	23000	1	2
7952814	Exterior Accessories	Car Accessories	Northeast	28	Loss	3	20	52000	1	4
8008934	Garage & Car Care	Car Accessories	Southwest	46	Loss	1	0	473900	1	6
8026399	Batteries & Accessories	Car Accessories	Southeast	27	Loss	2	18	340000	1	6
8101150	Exterior Accessories	Car Accessories	Southeast	16	Loss	4	27	30000	1	3
8149004	Motorcycle Parts	Performance & Non-auto	Mid-Atlantic	18	Loss	2	24	15000	1	2
8245200	Exterior Accessories	Car Accessories	Northeast	37	Won	3	2	209000	1	5
8249983	Exterior Accessories	Car Accessories	Southeast	10	Loss	7	24	50000	1	4
8550964	Exterior Accessories	Car Accessories	Southeast	5	Loss	5	22	150000	1	5
9600318	Performance Parts	Performance & Non-auto	Mid-Atlantic	5	Loss	5	12	120000	1	5
9643667	Motorcycle Parts	Performance & Non-auto	Northeast	16	Won	1	0	253	1	1
9794114	Replacement Parts	Car Accessories	Southwest	9	Won	2	2	420000	1	6

Answer 1

Based on the status quo population parameter value (Opportunity Amount USD 91637.26) and information (or lack thereof) regarding the population standard deviation, you will conduct a one tailed hypothesis test based on a level of significance of alpha=0.05. You will choose between a lower and upper tailed test based on your calculated sample mean: -If your sample mean is lower than the status quo population mean, you will be testing that it has decreased from the norm. -If your sample mean is higher than the status quo population mean, you will be testing that it has increased from the norm. Be sure to state the Null and Alternative Hypotheses, the Test Statistic, the Critical Value, and the Test Conclusion. Explain in words how the conclusion of the test could impact the business.

Descriptive statistics
	Opportunity.Amount.USD
count	50
mean	118,466.2600
sample standard deviation	128,447.4025

calculated sample mean $118466.26 is larger than population mean $91637.26. upper tailed test is used. since population standard deviation is not known, t distribution is used.

t Test for Hypothesis of the Mean
Data
Null Hypothesis                m=	91637.26
Level of Significance	0.05
Sample Size	50
Sample Mean	118466.2600
Sample Standard Deviation	128447.4025
Intermediate Calculations
Standard Error of the Mean	18165.2059
Degrees of Freedom	49
t Test Statistic	1.4769
Upper-Tail Test
Upper Critical Value	1.6766
p-Value	0.0730
Do not reject the null hypothesis

Test statistic t = 1.4769         

Table value of t with 49 DF at 0.05 level =1.6766

Rejection Region: Reject Ho if t > 1.6766

Calculated t =1.4769 not falls in the rejection region

The null hypothesis is not rejected.

There is not enough evidence to support that Opportunity Amount has increased from the norm.