In what follows use any of the following tests: Regression, multiple regression, one- sided t-test, or...

In what follows use any of the following tests: Regression, multiple regression, one- sided t-test, or two-sided t-test. All conclusions should be based on 5% P-value threshold.

Choose the best fitting answer.

Open TV_Restaurants data. SETUP: The data represents weekly profit (in thousands) for each of the 20 restaurants. 10 restaurants were equipped with new TV sets while the remaining 10 were not. Management wants to see if there is any difference in the profit. Given the data, your job is to perform the appropriate statistical test or procedure and help management with their decision.

5. What test did you perform?

a. Regression
b. Multiple regression
c. One-sided t-test
d. Two-sided t-test

6. What is the P-value?

a. 0.037055
b. 0.074111
c. 0.008986
d. 0.660867
e. None of these

7. What is the Statistical interpretation?

a. Since P-value is very small we can conclude that new TV increased the profit.
b. Since P-value is too large we cannot conclude that new TV increased the profit.
c. Since P-value is too large we cannot conclude that more the TVs we have the higher the profit.
d. None of these.

8. What is the conclusion?

a. Test is inconclusive; we cannot tell that the profits are different.
b. Test is conclusive; the profits are different.
c. Test is inconclusive; we cannot claim that new TV sets increased the sale.
d. None of these.

TV_Restaurants data

NO TV   Yes TV
7       8
13      5
5       7
12      7
11      10
9       8
12      10
8       7
11      4
7       9

Solutions

Expert Solution

orchestra answered 1 year ago

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