The study of how people seek to satisfy their needs and wants by making choices is total cost
1 answer:
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Answer:
The t-test
Explanation:
<em>The researcher should use a t-test to compare the two means and check if they are significantly different from each other.</em>
In using the t-test, both null (H0) and alternate (H1) hypothesis are made such that:
- H0: n1 = n2
- H1: n1≠ n2
Thereafter, the value of t is calculated and compared to its critical value on the table. The formula for calculating the t goes thus:
where, Y1 = mean of population 1, Y2 = mean of population 2, S1 = variance of population 1, S2 = variance of population 2, n1 = number of individuals in population 1 and s2 = number of individuals in population 2.
<em>At the end of the day, if the calculated t value is more than the critical value of t, the H0 is rejected and it shows that the two means are significantly different. Otherwise, the H0 is accepted and this shows that there is not significant difference between the mean of population 1 and that of 2.</em>