Making a statistical determination utilizing experimental data requires the application of the statistical approach known as hypothesis testing. To identify which statement is best supported by the sample data, hypothesis testing compares two statements about a population that are mutually exclusive.
The global footwear market had a value of $365.5 billion in 2020, and by 2027, it is anticipated to grow to $530.3 billion. To gain new insights, the sales dataset of a retail business needs to be evaluated and validated using hypothesis testing to identify suitable strategies for amplifying sales.
Learn to use the concept of Hypothesis testing to analyze sales of a shoe retail store.
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