In the below dataset , in the task three solution, how is t statistic calculated as 3.36... Please can you explain. I did not get... Dataset $ 78,000 Task 1: Mean $ 92,533 $ 90,000 St. deviation $ 13,932 $ 75,000 Standard error $ 4,644 $ 117,000 $ 105,000 Task 2: Population variance is unknown $ 96,000 We have a small sample $ 89,500 We assume that the population is normally distributed $ 102,300 The appropriate statistic to use is the t-statistic $ 80,000 Task 3: 99% CI, t8,0.005 3.36 Sample size is 9 => the degrees of freedom are 8.

Hello Smriti! Here you have a sample size of 9 observations which means the degrees of freedom would be equal to n-1 or 8. You use the t-table: d.f. / α 0.1 0.05 0.025 0.01 0.005 1 3.078 6.314 12.706 31.821 63.657 2 1.886 2.920 4.303 6.965 9.925 3 1.638 2.353 3.182 4.541 5.841 4 1.533 2.132 2.776 3.747 4.604 5 1.476 2.015 2.571 3.365 4.032 6 1.440 1.943 2.447 3.143 3.707 7 1.415 1.895 2.365 2.998 3.499 8 1.397 1.860 2.306 2.896 3.355 9 1.383 1.833 2.262 2.821 3.250 And examine the case for 99% confidence level. This means that half of alpha would be equal to 0.005 (two-sided test). You check in the table to see that the corresponding value is equal to 3.36. Best, The 365 Team

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Smriti

Last answered:

09 Sept 2021

Posted on:

12 Aug 2021

Statistic(Population variance unknown)

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Ivan Kitov

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Posted on:

09 Sept 2021

Statistic(Population variance unknown)

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