Question: Lab 3 . 3 Excel: Analysis Questions In previous Chapter 3 labs, you determined that the average sales transaction was different between online and in

Lab

3.3

Excel: Analysis Questions

In previous Chapter

3

labs, you determined that the average sales transaction was different between online and in

-

person sales, but in this lab you actually assessed if those differences were significantly different using a hypothesis test. Why is statistically testing the differences important when it comes to making business decisions based on these results?

Assume that alpha is adjusted from

5 %

10 % .

With a

10 %

alpha, is a Type II error more or less likely? What impact does that have on potential decision

-

making regarding this t

-

test?

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