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Inferential Sta

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Inferential Statistics and Findings
QNT/561
July 13, 2015

Inferential Statistics and Findings
The purpose of this paper is “to create inferential statistics (hypothesis test) using the research question and two variables (dependent, DV and independent, IV). The paper focuses on the statistical tool used to test the hypotheses at 95% confidence interval and interprets the results providing the findings” (Instructions-week 5, 2014).
Oso Inc., produces hand crafted, unique, and different styles of pens. It sells approximately 100,000 pens to distributors and individual customers and the sales report show good sales numbers. But the company wants to determine how they can increase their profitability, thus approached the research team who proposed the following research question.
Research question (RQ)
Is there a correlation between Product Profitability (DV) and Product sales (IV)? Hypothesis statements (H0): There is no correlation between Product Profitability (DV) and Product sales (IV). (H1): There is a there is a correlation between Product Profitability (DV) and Product sales (IV). Hypothesis test with a 95% confidence level, using the statistical tool (P-value) “The viability of the null hypothesis is determined in light of the data and the aim of tests of significance is to calculate the probability (P value), that an observed outcome has merely happened by chance. Reject the null hypothesis, if there is significant evidence that, P < 0.05 and fail to reject the null hypothesis is p > 0.05” (Gupta, 2012). Data used was observations of 100 randomly selected sales figures. (Please refer worksheet attach below).
Interpretation of the results and findings The statistical information shows the distribution was normal, with a mean/average of $10.04 and standard deviation of $2.71. It showed 95% confidence interval

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