MKTG 376 Lecture Notes - Lecture 5: Baby Boomers, Analysis Of Variance, Statistical Significance
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What is a t test, when to use a z test. T test most common and popular when comparing two means. Strategy of t test compares actual mean differences observed between two groups or variables with the differences expected by chance. T-test is univariate hypothesis using t distribution, which is used when std. Deviation is unknown and sample size is small, <30. For large samples, the t test and z test are equivalent. Looking for differences between groups within your sample. Groups are defined by nominal (male/female) or ordinal (low/high) variables. To see whether groups exhibit different means. Run a t test (2 groups) or anova (2+ groups) Test whether differences in the sample can be generalized to the population with the t test or f test. If p value is less than or equal to 0. 05, refer to the separate average for the group. From a survey of 250 baby boomers and 250 millennials, could ask.
