Testing research hypotheses

Reference no: EM13108882

In playing the Lemonade Stand Game, Bob decreased his price per cup by two cents, from $.27 per cup to $.25 per cup. At the .05 level of significance, did net revenue increase? The data for weeks 3 and 4 are presented below; there were 30 observations in each week.

Items to compare:

Price per Xup

Week 3 ; Week 4

.25 ; .27

Stand. Del

3.77 ; 4.52

Ave. Daily Net Revenue

$2.25 ; $2.10

Describe the steps in testing a research hypothesis. What formula should we use to make the calculation? Make the calculation. What is your decision regarding the null hypothesis?

Reference no: EM13108882

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