A young entrepreneur is testing the viability of a virtual reality (VR) arcade.

Question

A young entrepreneur is testing the viability of a virtual reality (VR) arcade. He wants to know whether experiencing a VR demonstration increases the amount of money customers are willing to pay to engage in VR games. He administers a survey to participants before and after they experience a VR demonstration. Which of the following is the appropriate statistical method to test whether the experience increased the amount of money customers are willing to pay? 2-sample paired t-test 2-sample test for difference in proportions Analysis of vanance (ANOVA) 2-sample Z-test 2-sample t-test

Explanation / Answer

Answer: 2-Sample paired t-test.

2-sample paired t-test: one of the most common uses of this test is Pre and post-test and calculating the population mean differences.

2-sample test for proportions: Calculating the population proportionally difference.

Analysis of variance(ANOVA): calculating the variance difference between groups.

2-sample t-test: Calculating the difference between two samples means

2-sample Z-test: Calculating the difference between two population means.

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