Excel 2010 for Business Statistics by Thomas Quirk

Author:Thomas Quirk
Language: eng
Format: epub
Publisher: Springer New York, New York, NY

Now, let’s use the second formula for the two-group t-test, which we use whenever either one group or both groups have less than 30 people in them.

Objective:

To use Formula #2 for the two-group t-test when one or both groups have less than 30 people in them

Now, let’s look at the case when one or both groups have a sample size less than 30 people in them.

5.3 Formula #2: One or Both Groups Have Less Than 30 People in Them

Suppose that you work for the manufacturer of MP3 players and that you have been asked to do a pricing experiment to see if more units can be sold at a reduction in price.

Suppose, further, that you have randomly selected seven wholesalers to purchase the product at the regular price, and they purchased a mean of 117.7 units with a standard deviation of 19.9 units.

In addition, you randomly selected a different group of eight wholesalers to purchase the product at a 10% price cut, and they purchased a mean of 125.1 units with a standard deviation of 15.1 units.

You want to test to see if the two different prices produced a significant difference in the number of MP3 units sold.

You have decided to use the two-group t-test for independent samples, and the following data resulted in Fig. 5.13:

Fig. 5.13Worksheet data for wholesaler price comparison (practical example)

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