In: Statistics and Probability
In 2017, the top 5 Pop artists (so npop = 5) sold a mean number of 358,200 albums (SD = 227,656), and the top 5 R&B/Hip-Hop artists (so nRBH = 5) sold a mean number of 352,600 albums (SD = 109,061).
Assuming conventional alpha, what is the critical value for the analysis that will help us judge whether these group means are significantly different?
Since the number of data points is very less i.e. 5, we will use the t-test for analysis.
Conventional alpha = 0.05
N = 5
Degree of freedom = N - 1 = 4
Using the t-table , we find that the t score corresponding to and Degree of freedom = 4 is 2.776 which is the critical value
Using this critical value we will calculate the confidence interval corresponding to 0.05 alpha
For pop artist
N = 5
Mean = 358200
SD = 227656
Standard Error = = =
Confidence interval for mean number of albumbs sold for pop artists =
=
For R&B/Hip-hop artist
N = 5
Mean = 352600
SD = 109061
Standard Error = = =
Confidence interval for mean number of albumbs sold for pop artists =
=
Hence, we can see that using the critical value, the range for 95% of the HIP-HOP artists' album sold is more closer to the mean than that of the pop artist.
so, even with a very similar means for the number of albums sold, the range for the number of albums sold is much higher in the case of pop artists than hip-hop artists and thus we can say that the group means are significantly different.
Thank you.
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