PROJECT. Refer to the Academy of Management Journal (December 2019) study of crowdfunding backers for an entrepreneur's project, Exercise 6.10 (p. 319). Recall that the researchers collected data on the number of crowdfunding backers for each in a sample of 1,460 entrepreneurial projects pitched on the internet via video. The data is saved in the BACKERS file. Again, define μ as the true mean number of crowdfunding backers for all entrepreneurial projects pitched via the internet. Suppose the researchers want to know if μ differs from 200 using a statistical test of hypothesis. Use the accompanying Minitab printout to conduct the test. What is your conclusion? Explain why the 90% confidence interval (shown on the printout) will lead to the same conclusion.

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PROJECT. Refer to the Academy of Management Journal
(December 2019) study of crowdfunding backers for an
entrepreneur's project, Exercise 6.10 (p. 319). Recall that the
researchers collected data on the number of crowdfunding
backers for each in a sample of 1,460 entrepreneurial projects
pitched on the internet via video. The data is saved in the
BACKERS file. Again, define μ as the true mean number of
crowdfunding backers for all entrepreneurial projects pitched
via the internet. Suppose the researchers want to know if μ
differs from 200 using a statistical test of hypothesis. Use the
accompanying Minitab printout to conduct the test. What is
your conclusion? Explain why the 90% confidence interval
(shown on the printout) will lead to the same conclusion.
Transcribed Image Text:PROJECT. Refer to the Academy of Management Journal (December 2019) study of crowdfunding backers for an entrepreneur's project, Exercise 6.10 (p. 319). Recall that the researchers collected data on the number of crowdfunding backers for each in a sample of 1,460 entrepreneurial projects pitched on the internet via video. The data is saved in the BACKERS file. Again, define μ as the true mean number of crowdfunding backers for all entrepreneurial projects pitched via the internet. Suppose the researchers want to know if μ differs from 200 using a statistical test of hypothesis. Use the accompanying Minitab printout to conduct the test. What is your conclusion? Explain why the 90% confidence interval (shown on the printout) will lead to the same conclusion.
Descriptive Statistics
N
1460 181.0 585.7
Mean StDev SE Mean
15.3
μ: mean of Backers
Test
Null hypothesis
Alternative hypothesis
Ho: μ = 200
H₁: μ ‡ 200
90% CI for μ
(155.8, 206.2)
Transcribed Image Text:Descriptive Statistics N 1460 181.0 585.7 Mean StDev SE Mean 15.3 μ: mean of Backers Test Null hypothesis Alternative hypothesis Ho: μ = 200 H₁: μ ‡ 200 90% CI for μ (155.8, 206.2)
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