Suppose you work for a smoothie shop-and you want to assess whether the average transaction value at your shop is different from the competing smoothie shop on the other block. To do so, you randomly sample 19 of your shop's transactions and record a sample average of $9.75 and sample standard deviation of $3.50. You then collect data on 15 randomly selected transactions from the competing smoothie shop. This sample has a mean of $11.00 and a standard deviation of $4.70. What is the test statistic for the hypothesis test of whether there is a difference in your shop's average transaction value minus the average transaction value of the competing smoothie shop?
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75$ * Sample standard deviation of your shop: $s_1 = 3.50$ * Sample size of the competing shop: $n_2 = 15$ * Sample mean of the competing shop: $\bar{x}_2 = 11.00$ * Sample standard deviation of the competing shop: $s_2 = 4.70$ Show more…
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