You are the one who is taking the course, do you not know the meanings of any of these words? What is the difference between a "one-sided" and "two-sided" test? What is a "null hypothesis"? What is a "t-text statistic"?
Hi guys for part (c), Im not sure what to use for the standard deviation in the t-test, any help greatly appreciated
A vegetable producer is interested in the evolution of weekly sales on a particular product over
the past 6 months. Historical data indicated an average weekly sales per retailer of 2,400 units
of the product, over the past 6 months. Following a change in the advertising strategy for this
product, a random sample of sales from 134 dierent retailers was gathered and an average
weekly sale of 3,593 units per retailer was calculated. Consider that the aim of this study is to
assess whether the weekly sales of the product have signicantly increased.
(a) State whether you would carry out a one-sided or a two-sided test.
(b) State the null and alternative hypotheses.
(c) Compute the value of the t-test statistic.
(d) Explain whether you would accept the null hypothesis and why
You are the one who is taking the course, do you not know the meanings of any of these words? What is the difference between a "one-sided" and "two-sided" test? What is a "null hypothesis"? What is a "t-text statistic"?
Any help? I have a test tmw, it is only part (c), I know the formula etc for t-test statistic but I do not know what to use for standard deviation, how do I compute this, sorry I'm probably leaving out something completely blatant