Final Project: Probability Estimation and Hypothesis Testing in Marketing Analytics

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Final Project: Probability Estimation and Hypothesis Testing in Marketing Analytics Assignment 4: Final Project Probability and Hypothesis Testing Your final project entails systematic extraction of decision - aiding insights from a dataset (SampleDataSet.xlsx) provided to you in the Doc Sharing area. The goal of this project is to provide you with hands - on experience in conducting and interpreting different types of function - wise statistical analysis. The focus of your analysis will be on the marketing strategy and analysis - related topics. At times, you will be expected to conduct additional research on topics that are not adequately covered in your text, for example, data due diligence. In this segment, you will estimate simple probability and test hypotheses using the provided SampleDataSet. • Probability: Find the Region variable in the SampleDataSet. Using SampleDataSet, create a frequency distribution or a histogram. Based on the frequency distribution or histogram, estimate the probability associated with each region. Here I am creating the frequency distribution of the region. We can see that there are 9 regions in total and the sample size is 2000 so the relative frequency for each region is the frequency of that region divided by the total frequency (which is 2000). And using this concept the obtained frequencies and calculated probabilities are given below, Region Frequency Probability 1 383 0.1915 2 120 0.06 3 298 0.149 4 149 0.0745 5 135 0.0675 6 245 0.1225 7 381 0.1905 8 145 0.0725 9 144 0.072 Total 2000 1 • Test the following hypotheses: 1. Hypothesis 1: Age (of residents) of Region 1 > Age of Region 7
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