Your company wants to improve sales.  Past sales data indicate that the average sale was €100 per transaction.  After training your salesforce, recent sales data (taken from a sample of 25 salespeople) indicates an average sale of €130, with a standard deviation of €15.  Did the training work to improve sales in the population?  Test your hypothesis at a 5% alpha level. Is this a two-tailed test or a one-tailed test? Why? Answer:     State the Null Hypothesis Answer:     State the Alternative Hypothesis Answer:    State the critical value(s) (make sure you are reading from the correct row-column combo on the T table) Answer:    Calculate the t-test statistic or value (show your workings) Answer:    Based on your answers to questions 18 & 19 are you rejecting or accepting the Null Hypothesis? Answer:     What is the meaning of this in terms of the proplem posed? Answer:

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.