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 2 economic variables, using Party as the categorical variable. Perform the tests with 2-sided alternative hypotheses, using 0.10. For each test, 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: >t test economyS var. Inflation-economySParty.conf.level-10/100, equal-TRUE) Two Sample t-test data: economyslnflation by economy SParty t 30.076274. df 51.p-values 309395 alternative hypothesis: true difference in means is not equal to 0 10 percent confidence interval: -0.04114879 0.1 sample estimates mean in group D mean in group R 4.026087 3.963333 t test economySSurplus-economySParty.confuevel-10/100, var equal-TRUE) Two Sample t-test data: economyssurplus by economySParty t 18484. df si p-value 30.07034 alternative hypothesis: true difference in means is not equal to 0 10 percent confidence interval: 1.195383 1.370704 sample estimates mean in group D mean in group R 1.886957 3.170000

Explanation / Answer

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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