Chapter 7, Problem 7.2E

The data for the following questions is provided in Microsoft Excel file on 4 separate sheets. Please conduct a step by step of these statistical tests on separate sheets of Microsoft Excel. If the calculations in Microsoft Excel are incorrect, the null and alternative hypotheses, as well as the conclusions drawn from them, will be meaningless and will not receive any points. What is one sample T-test? Give an example of business application of this test? What is Two-Sample T-Test. Give an example of business application of this test? .What is paired T-test. Give an example of business application of this test? What is one way ANOVA test. Give an example of business application of this test? 1. One Sample T-Test: Determine whether the average satisfaction rating of customers for a product is significantly different from a hypothetical mean of 75.  (Hints: The null can be about maintaining status-quo or no difference; If your alternative hypothesis is non-directional (e.g., μ≠75), you…

What is one sample T-test? Give an example of business application of this test? What is Two-Sample T-Test. Give an example of business application of this test? .What is paired T-test. Give an example of business application of this test? What is one way ANOVA test. Give an example of business application of this test? 1. One Sample T-Test: Determine whether the average satisfaction rating of customers for a product is significantly different from a hypothetical mean of 75.  (Hints: The null can be about maintaining status-quo or no difference; If your alternative hypothesis is non-directional (e.g., μ≠75), you should use the two-tailed p-value from excel file to make a decision about rejecting or not rejecting null. If alternative is directional (e.g., μ < 75), you should use the lower-tailed p-value. For alternative hypothesis μ > 75, you should use the upper-tailed p-value.)   H0 =   H1=   Conclusion: The p value from one sample t-test is _______. Since the two-tailed p-value…

4. Dynamic regression (adapted from Q10.4 in Hyndman & Athanasopoulos) This exercise concerns aus_accommodation: the total quarterly takings from accommodation and the room occupancy level for hotels, motels, and guest houses in Australia, between January 1998 and June 2016. Total quarterly takings are in millions of Australian dollars. a. Perform inflation adjustment for Takings (using the CPI column), creating a new column in the tsibble called Adj Takings. b. For each state, fit a dynamic regression model of Adj Takings with seasonal dummy variables, a piecewise linear time trend with one knot at 2008 Q1, and ARIMA errors. c. What model was fitted for the state of Victoria? Does the time series exhibit constant seasonality? d. Check that the residuals of the model in c) look like white noise.