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Real-world example: Should Condor launch a new website?
An online video games store named ‘Condor’ needs to test its old and new web designs. Condor randomly redirects a sample of customers to either site and measures the sales information of customers who purchase.
a) Could you make an educated guess on what Condor should do without calculating anything?
b) Design a hypothesis test and determine whether Condor should roll out the new website.
c) Solve the same problem by using Excel.
Real-world example: Cornell Endowment
Selim Hasagasioglu Academy and Consulting Services agreed with Cornell University’s Office of University Investments on increasing the average donation per Cornellian including alumni and current students.
a. Help the company construct the Null and Alternative Hypotheses.
b. At a significance level of α=0.05, what should Cornell do, considering the results of this marketing experiment?
c. What kind of information is provided through this hypothesis testing project?
3. Berserk Toys is a boutique toy maker that could not afford to stop production and run a root cause analysis.
How can the company tackle this problem and increase the confidence?
Real-world example: Marbella Call Center
Marbella Call Center is a contractor assessing the quality of calls to the customer services of top global brands. Recently, Marbella agreed with Eldorado, a global retailer, on assessing the quality of the customer service of Eldorado.
3. What is the expected value and standard deviation of the sample proportion?
4. What is the probability of getting 70 or fewer calls that adhered to the company policy?