Question: Use the spreadsheet that contains the data forProduct A and Product B(available under the 'Assessment' tab on the module website) and help Maria evaluate her
Use the spreadsheet that contains the data forProduct A and Product B(available under the 'Assessment' tab on the module website) and help Maria evaluate her product expansion decision by analysing Product B's customer satisfaction scores against the market benchmark of 6.5 ( = 0.05), which she believes her product significantly exceeds. Specifically:
- discuss the potential impact of Type I and Type II errors in this context
- calculate and interpret the effect size to determine if it supports Maria's belief.
Based on your findings, provide recommendations for Maria's product expansion decision.
| Product A | t-Test: Two-Sample Assuming Unequal Variances | ||||||
| Mean | 7.33652174 | Variable 1 (Product A) | Variable 2 (Product B) | ||||
| Standard Error | 0.26417207 | Mean | 7.357777778 | 7.235185185 | |||
| Median | 7.655 | Variance | 3.261899495 | 2.797146191 | |||
| Mode | 4.77 | Observations | 45 | 54 | |||
| Standard Deviation | 1.79170213 | Hypothesized Mean Difference | 0 | ||||
| Sample Variance | 3.21019652 | df | 91 | ||||
| Kurtosis | -0.9243629 | t Stat | 0.347739255 | ||||
| Skewness | -0.4316492 | P(T<=t) one-tail | 0.364419534 | ||||
| Range | 5.76 | t Critical one-tail | 1.661771155 | ||||
| Minimum | 4.09 | P(T<=t) two-tail | 0.728839068 | ||||
| Maximum | 9.85 | t Critical two-tail | 1.986377154 | ||||
| Sum | 337.48 | ||||||
| Count | 46 | ||||||
| Confidence Level(95.0%) | 0.53206986 | ||||||
| Upper CI (95%) | 7.86859159 | ||||||
| Lower CI (95%) | 6.80445188 | ||||||
| Product B | |||||||
| Mean | 7.23518519 | ||||||
| Standard Error | 0.22759394 | ||||||
| Median | 7.285 | ||||||
| Mode | 9.2 | ||||||
| Standard Deviation | 1.6724671 | ||||||
| Sample Variance | 2.79714619 | ||||||
| Kurtosis | -1.1263032 | ||||||
| Skewness | -0.0320238 | ||||||
| Range | 5.88 | ||||||
| Minimum | 4.1 | ||||||
| Maximum | 9.98 | ||||||
| Sum | 390.7 | ||||||
| Count | 54 | ||||||
| Confidence Level(95.0%) | 0.45649564 | ||||||
| Upper CI (95%) | 7.69168083 | ||||||
| Lower (95%) | 6.77868954 | ||||||
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