Question

Identify a quantitative variable (measurement) in your business/organization that has either interval or ratio level of measurement. Obtain at least 10 observations of this variable (measurement). Make up the data if you are not familiar with any Organization.

Purpose: To demonstrate the application of t-test in business.

EXAMPLE: A standard measure that fits these requirements might be product assembly time or efficiency rating (time is a ratio measure); and compared with some sort of National or Company Standard. You can apply t-test hypothesis to see if the average assembly time for a product is different for the 10 observations and compared with the National or Company’s Standard.

Conduct the t-test hypothesis using your samples (observations for the 10 employees), discuss your findings

Answer 1