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Business Analytics 31.10

Business Analytics

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stt041408
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9 views

Business Analytics 31.10

Business Analytics

Uploaded by

stt041408
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Step 1:

H0: there is no significant difference between the average household income [income] and the value of
60K

H1: there is a significant difference between the average household income [income] and the value of
60K

Step 2: One sample test

Step 3: Descriptive statistics

One-Sample Statistics

N Mean Std. Deviation Std. Error Mean

Household income in 6400 69.4748 78.71856 .98398


thousands

The average household income of 6400 respondents is 69475 $ and the std is 78718$

Step 4: t-test results

One-Sample Test

Test Value = 60

95% Confidence Interval of the


Difference

t df Sig. (2-tailed) Mean Difference Lower Upper

Household income in 9.629 6399 .000 9.47484 7.5459 11.4038


thousands

t = 9.629, p<0.01

there is a significant difference between the average household income [income] and the value of 60K

The average household income is 9475$ higher than the test value (60K), and it is significant at 0.001
level.

- Bigger/smaller
- Mean difference
- Sig value
1) One sample t-test: x

S1: Ho

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