Hypothesis Testing

Hypothesis Testing

Suppose You Have Two Groups Of Deals—Ones With New Customers
And Ones With Existing Customers—And You Want To See If There Are
Differences In The Two Groups With Respect To The Following Output
Measures Of Interest:
Size Of Deal
Time To Close Deal
% Of Deals Won
How Would You Approach This Problem?
1) Collect Data On Size, Time And % Won For Both Types Of Deals
2) Compare Average Values Of The Output Measures
3) How Different Would The Averages Have To Be In Order To Conclude They Are Significantly Different? Hypothesis Tests Help Answer That Question