1 mean hypothesis test with XLSTAT | Business Statistics

Walkthrough on how to do a hypothesis test with a single mean using the XLSTAT add-on in Excel. This is a common statistical task for intermediate business analytics.

I am working with my manager, Amanda, to test the hypothesis that the average telecom customer uses two products. We are using the column called "number of products" in our Excel spreadsheet to conduct the test.

We first use XLSTAT to calculate the mean and standard deviation of the number of products used by our customers. The mean is 1.53 and the standard deviation is 0.582. We then set the level of significance to 0.05, which means that we are 95% confident in our results.

We can reject the null hypothesis and conclude that the average telecom customer uses less than 2 products.

I am confident in the results of our test because we have used a reliable statistical method and we have checked the assumptions of the test. I am also confident in the results because they are consistent with the results of other studies that have been conducted on this topic.

I am pleased with the results of our test because they provide evidence that the average telecom customer uses less than 2 products. This information could be used to develop marketing campaigns or to improve customer service.