Explain the notions of mathematical differences

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Explain the notions of mathematical differences, managerially relevant differences, and statistical significance. Can results be statistically significant and yet lack managerial importance? Explain your answer.

A retailer is interested in investigating whether doubling the value of manufacturer coupons will increase the number of shoppers. “Doubling” means that the store would give consumers a discount equal to twice the coupon face value, with the retailer absorbing the cost of the extra discount. Write the null and alternative hypotheses associated with this test that would need to be performed in order to provide this information. Also indicate the type of data that should be collected to best test the hypothesis, and the type of statistical test that would need to be performed.

Reference no: EM132169388

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