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Data Analysis

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For the following data:

Fiscal Year GDP-US ($ billion) Total Spending ($ billion)
1996 7838.5 2719.43
1997 8332.4 2813.59
1998 8793.5 2923.39
1999 9353.5 3053.51
2000 9951.5 3240.18
2001 10286.2 3434.00
2002 10642.3 3697.75
2003 11142.1 3930.63
2004 11867.8 4131.92
2005 12638.4 4397.34
2006 13398.9 4698.23
2007 14077.6 4924.61
2008 14441.4 5335.24
2009 14119.0 5896.16
2010 14660.4 5798.85
2011 15079.6 6163.20
2012 15812.5 6148.72
2013 16752.4 6339.81
2014 17782.2 6738.36
2015 18804.1 7149.41
2016 19790.5 7607.52

1. Demonstrate correct use of descriptive statistics.
2. Demonstrate proficiency in hypothesis testing.
3. Analyze data in Microsoft Excel.
4. Evaluate the results of a statistical analysis.
5. Provide accurate, thoughtful, and managerially pertinent comments regarding results of a statistical analysis.

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Solution Summary

This solution is comprised of detailed analysis of the given data and provides students with a clear perspective of the underlying concepts of statistical analysis.

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