Run the ANOVA at 0.05 level of significance based on the provided data. Copy the Excel output below. Based on the output, test the null hypothesis H0that no differences exist between the effects of the sales methods (treatments) on mean weekly sales. Can we conclude that the different sales methods have different effects on mean weekly sales?
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Question 4 (15 marks)
A marketing organization wishes to study the effects of four sales methods (Method 1, 2, 3, & 4) on weekly sales of a product. The organization employs three salesmen (A, B, & C) to use each sales method. The weekly sales made by each salesman using four different methods are shown in the table below.
Sales Method/S |
A |
B |
C |
1 |
32 |
29 |
30 |
2 |
32 |
30 |
28 |
3 |
28 |
25 |
23 |
4 |
25 |
24 |
23 |
- Run the ANOVA at 0.05 level of significance based on the provided data. Copy the Excel output below.
- Based on the output, test the null hypothesis H0that no differences exist between the effects of the sales methods (treatments) on mean weekly sales. Can we conclude that the different sales methods have different effects on mean weekly sales?
Step by step
Solved in 2 steps with 1 images