A) First, what is the estimated standard error of the mean, sM? B) Second, what is the value of the t-stat for this sample mean? C) Third, how many degrees of freedom are there for this t-test? Your company wants to improve sales. Past sales dataindicate that the average sale was $200 per transaction.After training your sales force, recent sales data (taken froma sample of 9 sales reps) indicates an average sale of $250,with a standard deviation of s = $36. Did the training work?You will conduct a one sample t-test with alpha = 0.01, onetailed, to determine whether the average sale significantlyincreased from $200 (that is, Ho is that the sales do not differsignificantly from $200, and H₁ is thatthey significantly increased).

Given that Sample size n=9 Sample mean=250 Standard deviation =36

Answered: A) First, what is the estimated…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

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A) First, what is the estimated standard error of the mean, sM?

B) Second, what is the value of the t-stat for this sample mean?

C) Third, how many degrees of freedom are there for this t-test?

Your company wants to improve sales. Past sales data
indicate that the average sale was $200 per transaction.
After training your sales force, recent sales data (taken from
a sample of 9 sales reps) indicates an average sale of $250,
with a standard deviation of s = $36. Did the training work?
You will conduct a one sample t-test with alpha = 0.01, one
tailed, to determine whether the average sale significantly
increased from $200 (that is, Ho is that the sales do not differ
significantly from $200, and H₁ is that
they significantly increased).

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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