Mathematics, 06.10.2021 19:10 heysonic91
JD is China's largest online retail store. In an effort to design proper promotion strategies for their loyal customers, they randomly selected 100 loyal customers and considered the total purchase amount spent last year by each customer. They also know the annual income of each sampled customer. The data file is available here Download here. In order to offer 10% discount to the loyal customers as their long-run promotion strategy, their business analyst would like to examine whether the average ratio of spent/salary is less than 1.8%. (hint: Define a new column Ratio: Spent/Salary in your data) (i) Set up appropriate hypotheses that the analyst would use. (ii) What is the test-statistic and its value (in three decimal places)? (iii)What is the p-value? (in two decimal places) (iv) What do you think the analyst would conclude with 99% confidence?
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