An IT company is planning to introduce a new product. In order to predict its sales,...

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An IT company is planning to introduce a new product. In order to predict its sales, they release the test version of the product to a group of early-access users. Each user is asked to give a score for the product from 0 to 100. If a user's score is greater than 50, then the user is classified as a potential buyer. a) Suppose you are a researcher and can collect any data as you wish. Briefly discuss what data you would collect, and how you would collect them. What distribution would be the best choice to model the score? What distribution would be the best choice to model being a potential buyer? Be sure to define random variables clearly. Give reasons for your answer. (up to 150 words) [5 marks] b) The manager decided that if more than 80% of users are classified as potential buyers, they will release the product. How would you conduct a hypothesis test? Make assumptions if you need. (up to 150 words) c) [5 marks] What do Type 1 and Type 2 error represent in this hypothesis test? (up to 100 words) [5 marks] d) Suppose that the majority of the top 1% of the scorers were women. Given this, the marketing department claims that their advertisements should primarily target women. Evaluate this claim. (up to 100 words) [5 marks] [20 marks Total] An IT company is planning to introduce a new product. In order to predict its sales, they release the test version of the product to a group of early-access users. Each user is asked to give a score for the product from 0 to 100. If a user's score is greater than 50, then the user is classified as a potential buyer. a) Suppose you are a researcher and can collect any data as you wish. Briefly discuss what data you would collect, and how you would collect them. What distribution would be the best choice to model the score? What distribution would be the best choice to model being a potential buyer? Be sure to define random variables clearly. Give reasons for your answer. (up to 150 words) [5 marks] b) The manager decided that if more than 80% of users are classified as potential buyers, they will release the product. How would you conduct a hypothesis test? Make assumptions if you need. (up to 150 words) c) [5 marks] What do Type 1 and Type 2 error represent in this hypothesis test? (up to 100 words) [5 marks] d) Suppose that the majority of the top 1% of the scorers were women. Given this, the marketing department claims that their advertisements should primarily target women. Evaluate this claim. (up to 100 words) [5 marks] [20 marks Total]