I did the test Just discuss the results in Layman\'s terms as showen below 1. Pe

Question

I did the test Just discuss the results in Layman's terms as showen below

1. Perform 2-sample t-test on each of the 2economic variables.using Party as the categorical variable. Perform the tests with 2-sided alternative h using 0.10. For each test, ypotheses obtain the output table with the numerical analyses (do not neglect performing the variance tests to determine which 2-sample t-test is the appropriate test). ANSWER: mysU nemployment-economysParty.confievel-10W100, var equal TRUE) ttest econo Two Sample t-test data: economy SUnemployment by economysParty t -2.0699. 51. p-value 0.04355 alternative hypothesis: true difference in means is not equal to 0 10 percent confidence interval: -09436862 -08351544 ple estimates: mean in group Dmean in group R 5.573913 64463333 ttest(economysGDPgrowth-economySParty.conflevel-10/100, var equal-TRUE) Two Sample t-test data: economySGDPgrowth by economySParty t* 2.0098, df* 51. p-value 0.04976 alternative hypothesis: true difference in means is not equal to 0 10 percent confidence interval: 1.099740 1.247216 sample estimates: mean in group Dmean in group R 3.743478 2570000

Explanation / Answer

Solution:

a)

Two groups are considered i.e economic inflation and economic party. Variability/Spread is the distance of responses from mean value of data which is present in the data values in the two groups i.e economic inflation and economic party needs to be checked.

Hypothesis1 - There is no variability in the data of both the groups. v/s

Hypothesis2 - There is variability in the data of the both the groups i.e economic inflation and economic party

We are checking by considering 10% of error . i.e 10/100 = 0.1 error is considered.

As our p-value is > 0.1 We do not reject our hypothesis and state that both the groups of economic inflation and economic party have no variation in data .

10% confidence interval shows that - the data is spreading from mean value from -0.041148 to 0.1666504 in both the groups i.e economic inflation and economic party with 0.1 error .

Average of responses in economic inflation - 4.026 i.e there is 4.026 economic inflation on an average

Average of responses in economic party - 3.9633 i.e there 3.9633 economic party on an average.

b)

Two groups are considered i.e economic surplus and economic party. Variability/Spread is the distance of responses from mean value of data which is present in the data values in the two groups i.e economic surplus and economic party needs to be checked.

Hypothesis1 - There is no variability in the data of both the groups. v/s

Hypothesis2 - There is variability in the data of the both the groups i.e economic surplus and economic party

We are checking by considering 10% of error . i.e 10/100 = 0.1 error is considered.

As our p-value is < 0.1 We reject our hypothesis and state that both the groups of economic surplus and economic party have variation in data .

10% confidence interval shows that - the data is spreading from mean value from 1.1953 to 1.3707 in both the groups i.e economic surplus and economic party with 0.1 error .

Average of responses in economic surplus - 1.8869 i.e there is -1.8869 economic surplus on an average

Average of responses in economic party - 3.1700 i.e there -3.1700 economic party on an average.

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