Question

A marketing executive is investigating whether this year’s advertising campaign has resulted in greater mean sales compared with last year’s mean sales. The executive collects a random sample of 100 customer orders from a large population of orders and calculates the sample mean and sample standard deviation.

Answer 1

We make use of a one-sample t-test for a population mean.

One-sample t-test for a population mean

Option B

Sample mean and Sample standard deviation

A Sample Standard Deviation is the root-mean square of the  data  minus the sample mean,

The sample mean is is the mean of the randomly selected sample

Therefore, For a data or sample where we have no information on population standard deviation and here only one sample group is compared, we make use of a one-sample t-test for a population mean

A one-sample t-test for a population mean

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