Test of Variance with Significance Level
F-stat calculation for upholstery business
July 9, 2019Variance and standard deviation
July 9, 2019Madison Associates is a marketing research firm that specializes in comparative shopping. Tyler is hired by General Motors to compare the selling price of the Pontiac Sunbird with the Chevy Cavalier. Posing as a potential customer, a representative of Madison visited 8 Pontiac dealerships in Sun city and 6 Chevrolet dealerships and obtained quotes on comparable cars.
The standard deviationfor the selling prices of 8 Sunbirds is $350 and on the six Cavaliers, $290.
At the 0.01 significance level is there a difference in the variation in the quotes of the Pontiacs and Chevrolets?
Madison Associates is a marketing research firm that specializes in comparative shopping. Tyler is hired by General Motors to compare the selling price of the Pontiac Sunbird with the Chevy Cavalier. Posing as a potential customer, a representive of Madison visited 8 …
To test if there is significant variation in the quotes.
