Intro to Business Statistics

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T-test

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Intro to Business Statistics

Definition

The t-test is a statistical hypothesis test used to determine if there is a significant difference between the means of two groups or populations. It is commonly used in various contexts, including experimental design, hypothesis testing, and regression analysis.

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5 Must Know Facts For Your Next Test

  1. The t-test is used to determine if the difference between the means of two groups is statistically significant, assuming the populations have equal variances.
  2. The t-test is a parametric test, meaning it assumes the data follows a normal distribution.
  3. The t-test is used to calculate a test statistic, which is then compared to a critical value from the t-distribution to determine the p-value and make a decision about the null hypothesis.
  4. The t-test is commonly used in experimental design to assess the impact of an intervention or treatment on an outcome variable.
  5. The t-test is also used in hypothesis testing to determine if the correlation coefficient is significantly different from zero.

Review Questions

  • Explain how the t-test is used in experimental design and ethics.
    • In experimental design and ethics, the t-test is used to determine if the difference between the means of two groups, such as a control group and a treatment group, is statistically significant. This helps researchers evaluate the effectiveness of an intervention or treatment while ensuring that any observed differences are not due to chance. The t-test allows researchers to make informed decisions about the impact of their study and to uphold ethical principles, such as ensuring that participants are not exposed to unnecessary harm or that the benefits of the study outweigh the risks.
  • Describe the role of the t-test in understanding Type I and Type II errors.
    • The t-test is a key component in understanding Type I and Type II errors in hypothesis testing. A Type I error occurs when the null hypothesis is true, but it is rejected, while a Type II error occurs when the null hypothesis is false, but it is not rejected. The t-test provides a way to calculate the probability of making these errors, known as the p-value. By setting an appropriate significance level (alpha), researchers can control the risk of making a Type I error and make informed decisions about accepting or rejecting the null hypothesis, which is crucial for drawing valid conclusions from the data.
  • Analyze how the t-test is used in the context of Cohen's standards for small, medium, and large effect sizes.
    • The t-test is closely linked to the concept of effect size, which measures the magnitude of the difference between two groups. Cohen's standards provide guidelines for interpreting the practical significance of these differences, classifying them as small, medium, or large. The t-test is used to calculate the test statistic, which is then used to determine the p-value and the effect size. By considering both the statistical significance (p-value) and the practical significance (effect size), researchers can make more informed decisions about the importance and relevance of their findings, particularly in the context of experimental design and hypothesis testing.

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