Do Sit-Down Restaurant Franchises and Fast Food Franchises Differ in Stock Price?
What is the test statistic and p-value for the two independent sample t-test comparing the average stock price of sit-down restaurants and fast food restaurants?
The correct answer is: Test Statistic: 1.235 P-Value: 0.1099
Analysis of the Data:
Calculation of Test Statistic and P-Value:
From the data provided, we calculated the test statistic using the t-test formula: t = ($249.388 - $245.022) / sqrt(($19.1384^2 / 40) + ($15.7443^2 / 58)) This yielded a test statistic of approximately 1.235. To find the p-value, we compared the test statistic to the t-distribution with 38 degrees of freedom and found the p-value to be approximately 0.1099. Conclusion: Based on the results of the t-test, we can conclude that there is not a significant difference in the average stock prices of sit-down restaurants and fast food restaurants. The p-value of 0.1099 indicates that we fail to reject the null hypothesis, suggesting that the average stock prices are not significantly different between the two types of restaurants.What is the appropriate conclusion based on a p-value of 0.0199 for a hypothesis test comparing the scores of students who study one week before a test to those who study the night before?
The appropriate conclusion is: The average score of students who study one week before a test is significantly different from the average score of students who wait to study until the night before a test.