Design a market research experiment by developing hypothesis statements and indicating how you would test your hypothesis. Before you begin, review Chapter 8 Section 3: Hypothesis Testing and Section 4: Inferential Statistics in the text before attempting this assignment. Inferential statistics make inferences and predictions about a population based on the sample of data. Inferential statistics help determine whether the relationships or differences between groups seen in data are strong enough to provide support for a hypothesis that the findings exist in the target market population as a whole. Therefore, inferential statistics are used to test hypotheses. Instructions: Select a product where you could test differences in importance the products features between demographics, such as age, gender, family status, etc. Choose something you could actually test and is measurable by a survey. Since this is a market research class, avoid social research or medical research). 1) State your null hypothesis in the proper format using the examples in the text. 2) State your alternative hypothesis in the proper format using examples in the text. 3) Create a survey question that will gather your independent variable(s). 4) Create a survey question that will gather your dependent variable. 5) Review the inferential test statistics from the table in Section 4 of the text. What test statistic would you use to determine statistical significance? Provide rationale for your choice. Example (courtesy of Marketing Research for Marketers by J. Callegher): Situation: Our client, a beverage company, wants to test a new bottled iced coffee product. They want to target consumers who already drink coffee, but they need more information than whether or not they drink coffee. We know adults drink a lot of coffee, but is there a difference of coffee consumption if they are parents (may hypothesize that parents of younger children drink more coffee than non-parents). 1. Null Hypothesis (H0): The percentages of the populations of the two groups (parents vs nonparents) are equal in how often they purchase coffee away from home. 2. Alterative Hypothesis (Ha): The percentages of the populations of the two groups (parents vs non-parents) are NOT equal in how often they purchase coffee away from home. 3. Create a survey question to gather your independent variable(s). Your independent variable is whether they have children, and maybe how old (maybe parents with children < 12 need more coffee?) 4. Create a survey question to gather your dependent variable. Your dependent variable is how often do they buy iced coffee.