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BUS 308: Statistics for Managers

A statistics course for managers, focusing on statistical methods and their applications in business decision-making.

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    BUS 308: Statistics for Managers T - Testing and Anova BUS 308 : Statistics for Managers Suppose that an automotive parts and accessories chain is experimenting with a new sales promotion. Two similar stores are selected for the experiment. For Store 1, nothing changes. This store constitutes the control group. For Store 2, the treatment group, the promotion is implemented. Sales in hundreds of dollars over a five - day period are as follows: a. Control: 6, 6, 7, 10, 12, 9, 6, 5, 5, 7 b. Treatment: 2, 5, 2, 4, 7, 1, 2, 3, 4, 5 Hypothesis test: Null Hypothesis :  1   2 against H1 :  1 <  2 (One tailed) t - Test: Two - Sample Assuming Equal Variances control treatment Mean 7.3 3.5 Variance 5.3444 3.3889 Observations 10 10 Pooled Variance 4.3667 Hypothesized Mean Difference 0 D f 18 t Stat 4.06625 P(T<=t) one - tail 0.00036 t Critical one - tail 1.73406 P(T<=t) two - tail 0.00072 t Critical two - tail 2.10092

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