our 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 t-test with alpha = 0.01, one tailed, to determine whether the average sale significantly increased from $200 (that is, H0 is that the sales do not differ significantly from $200, and H1 is that they significantly increased). 1. What is the estimated standard error of the mean? 2. What is the value of the t-stat for the sample? 3. How many degrees of freedom are there?
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 t-test with alpha = 0.01, one tailed, to determine whether the average sale significantly increased from $200 (that is, H0 is that the sales do not differ significantly from $200, and H1 is that they significantly increased).
1. What is the estimated standard error of the mean?
2. What is the value of the t-stat for the sample?
3. How many degrees of freedom are there?
4. What is the critical t-stat for this test?
5. Is the result significant?
6. What is the r2 effect size?
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