This assignment involves two tasks. Task 1 focuses on descriptive statistics and hypothesis testing. Students are given data for five different business types and asked to calculate descriptive statistics (mean, median, mode, range, variance, standard deviation) for each. They then create frequency and relative frequency distributions and a relative frequency histogram. Finally, they perform a one-way ANOVA to test for significant differences in startup costs among the business types. Task 2 involves regression analysis. Students are given data on franchisees and asked to perform a multiple linear regression analysis. They need to present the Excel output, write the estimated regression equation, assess the model fit, test the significance of the relationship between dependent and independent variables, interpret slope coefficients, construct confidence intervals for slope coefficients, test the significance of individual slope coefficients, and finally, predict annual sales for a given scenario. The assignment demonstrates a comprehensive understanding of descriptive and inferential statistics, including hypothesis testing and regression analysis.
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