Predicting Extraction for an Existing Tower with a Given Number of Steps. An existing tower contains 5.0 theoretical steps. It is desired to predict its performance under the following conditions….
solve the hypothesis testing using Minitab as the tool.
Please solve the hypothesis testing using Minitab as the tool. For each problem, (1) specify the business and statistical hypotheses, (2) specify what the Type I and Type II errors are in this business context, and, the implications of making those errors, (3) include the results from Minitab, (4) draw appropriate conclusions to your statistical hypotheses based on the results, and, finally, (5) present the business conclusions in a short non-statistical summary.
Petro Corporation is a large petroleum company that owns and operates gasoline stations throughout Canada. The company wants to expand revenue by building new stations and wants to understand what factors influence fuel sales of gasoline stations in Canada.
The data setbelow contains information from 192 self-service gas stations for 1997. GALLONS is the average monthly fuel sales (both gasoline and diesel) in number of gallons. A station that operates 24 hours a day is indicated when HOURS = 1; HOURS = 0 for those open 18 hours per day. CARWASH is 1 if the station has a car wash on site and 0 if not. When LOCATION = 1, that station is located along a highway either in a metropolitan or rural area. LOCATION = 2 indicates a station located at an inner-city or metropolitan location but not along a highway. Finally, rural stations not alongside highways are noted by LOCATION = 3. (SEE ATTACHED FILE)
Do location, hours of operation, and/or on-site car washes have a significant influence on fuel sales? You may use separate hypothesis tests for each of the three independent variables. Do you think it is appropriate to do three different analysis as suggested in the last sentence? Based on your analysis, what recommendations can you make to the company?