Help with a Statistical Advisor Critical Thinking Paper : Sharron’s Hand Made Fu

Question

Help with a Statistical Advisor Critical Thinking Paper : Sharron’s Hand Made Furniture For the scenario on the next page, write a paper that explains the following to a prospective client: A) Formulate both null and alternative hypotheses for the client, and explain why the hypotheses need to be directional or non-directional. B) Determine what statistical test should be used to analyze the data. C) Summarize all information used to determine the correct statistical test (e.g., number of groups, type of data collected, independent or repeated measures) D) Provide a sample size and critical values in relation to the hypothesis. E) State what statistical test should be used (be specific since you have all of the information you need to determine the critical value(s)). F) Discuss what the statistical analysis will do in answering the hypotheses and question(s) for the client. Also discuss any potential problems to watch out for, including an appropriate sample size to meet the assumptions of the statistical test. G) Be sure to use and show critical thinking in your writing. By critical thinking, you need to demonstrate the importance of scientific processes, how science will further our knowledge, and how your scientific approach is applicable to real world knowledge. Sharron’s Hand Made Furniture Sharron makes hand-made bedroom furniture, and will have a booth at the state fair. She will be selling furniture based on models shown at the fair. She is very excited about one new style of a bedroom suite (dresser-mirror, bed-frame, chest, 2 night stands) because it takes her half the time to make it compared to other styles. Not counting labor, it cost her 500 dollars to make this bedroom suite, and Sharron would like to sell the suite for 1,500 dollars. This is quite a bit of money, and so she would like to see if a couple different selling tricks would help her. She wants to try 3 different selling tactics. First, sell it at 2,000 dollars, but then the salesman goes down to 1,500 after talking to the potential customer. The second approach would be to sell it at 2,000 dollars with a 25% discount sign on the suite. The third approach would be to sell the furniture set at 1,500 dollars firm. Based on past experience, she can expect to sell on average 20 of these new bedroom suites a day by just selling the furniture for 1,500 dollars firm. Sharron will sell at the state fair for 15 days, and was thinking about using different selling tactics on different days (so alternate between tactics from day to day). As a statistical advisor, she would like your input into her plans on trying out different selling tactics, and help with analyzing the data.

Explanation / Answer

A. Null hypothesis: Selling tactics have no significant impact on the number of items sold.
Alternative hypothesis: Selling tactics have a significant impact on the number of items sold.
We need a non-directional hypothesis for this study because we don't have any prior information about which selling tactic will result in more sales in comparison to the other.
B. The statistical test most appropriate for the data is the one way ANOVA.
C. The number of groups is three, the type of data collected is ratio scale, and independent measures will be used.
D. The sample size should be large, and therefore at least 120 participants (having at least 30 participants in one group). The critical value can be 0.05 level of significance.
Please post the other questions separately as we are supposed to answer just one question or four sub parts of the same question.

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