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Project Questions
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You can find the data for your assignment in the Exhibit files provided in the previous segments. Go through the data in the Exhibit files and answer the questions. You must enter your response in the Random Motors Project Submission File provided below.
Note: You need to convert the presentation into a PDF file before submission.
Submission requirements:
- You need to submit the following two Excel files:
- The first Excel file should contain all the calculations and analyses that you will be doing for the hypothesis testing for both the models. Create separate sheets within this Excel file for both the models.
- The second Excel file should contain the regression analysis for both the car models. Create separate sheets within this Excel file for both the models.
- You need to submit the slide deck presentation that is to be presented to the CEO of your company. Use the slide deck format provided below. Note: You need to convert the presentation into a PDF file before submission.
- You need to upload the three files (2 Excel files and One Presentation saved as PDF) in a single ZIP file. The ZIP file should be named as “Your Name_RandomMotors”
In your presentation, you need to answer the following questions.
Q-1) Formulate the null and alternative hypotheses for mileage and top speed to check whether the new models are performing as per the desired design specifications.
Q-2) In order to comment on whether or not the design specifications are being matched, perform relevant hypothesis tests and calculate the p-values for each model. What will you conclude? Assume that you are performing the tests at a 95% confidence level. (P Value Calculator)
Q-3) You have already learnt about the possible errors that might result from hypothesis tests. Which type of error is more expensive for Random Motors, and why? Assume that you need to refund the money to all your customers if your cars do not deliver the promised specifications.
Q-4) Develop a regression equation for each model at a 95% confidence level. Using the regression equation, predict the sales of the two models. State the hypothesis assumption for the overall test and individual variables.
Q-5) Based on the sales prediction, calculate the overall projected profit for the Rocinante36 and Marengo32 models, respectively?
Q-6) Your company wishes to invest only in the model that can generate high overall profits. In which of the two models, Rocinante36 and Marengo32, should your company invest?
Q-7) You must have developed the regression equation for both the models, Rocinante36 and Marengo32. Suppose you increase the price of Rocinante36 and Marengo32 by ₹1 lakh each. Which of the two models will have to see a higher impact on sales numbers? Provide proper logic for your answer. (Note: You can assume that all the other specifications, such as mileage and top speed, are the same for both models.)
Q-8) After developing the regression equation for both the models (Rocinante36 and Marengo32), if you analyse the p-values for the coefficients in the regression results, you will notice that some of the regression variables (top speed, mileage and price) are insignificant. Drop the insignificant regression variables and rebuild the regression model using only significant variables. Compare the adjusted R-squared value for both the new and the old regression models. Do you notice any change in the adjusted R-squared value? If yes, explain the reason for the change.
Project deliverables
Your submission for this project will have three broad elements, which are summarised in the table given below.
| Element | Description |
| Excel file with calculations and analysis | Analyse the data provided in the files DataExhibit 1 and DataExhibit 2. Perform hypothesis testing and regression analysis on the data. Submit two Excel files with the following file names: Hypothesis_Testing_(Your Name)Regression_Analysis_(Your Name) |
| Presentation slide deck (in the format mentioned on the submission page) | Submit a presentation slide deck in the format mentioned on the submission page. The slide deck should be clear and concise. You need to include all of your findings and suggestions in this slide deck. |
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