Basic Business Statistics

Basic Business Statistics
Student Name:
Student Number:
Date: 17th February 2019

Question 1:
a) Pooled standard deviations
Answer
Sp= √ ( n1 −1 ) s1
2+ ( n2−1 ) s2
2
n1+ n2−2
n1=10 ,n2=16 , s1
2=0.292 , s2
2=0.320
Sp= √ ( n1 −1 ) s1
2+ ( n2−1 ) s2
2
n1+ n2−2 = √ ( 10−1 ) 0.292+ (16−1 ) 0.320
10+16−2 = √0.3095=0.556327
b) Test Statistics
Answer
t= x1 −x2− ( μ1−μ2 )
sp √ 1
n1
+ 1
n2
= ( 1.24−2.46 )−0.60
0.556327 √ 1
10 + 1
16
= −1.8 2
0.22426 =−8.1156
c) The p-value for the test
Answer
p-value = 0.00000
d) Can we reject the null hypothesis?
Answer
Yes we reject the null hypothesis since p-value is less than 1% level of significance.
Question 2: