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Sat 11 Mar, 2017 11:21 am
A sales compnay wants to forecast its sales . There are 2 samples with n1 =30 and n2=30 .Since its a small sample I did paired t- Test in excel . I got critical T value is greater than the calculated t value. Im ok till this part.
Now in order for the sales company to break even, the average output is increased by 5000$ and if this figure is alternate hypothesis . I need to calculate probability of the Type I , Type II error.
Can someone help me the procedure or the test to be done ?
Thanks,
Swathi
@SwathiR,
To add to the question
I got a difference in Mean as -4000 from paired t test . Now that the average output of 5000$ increase implies I have to add the Difference in mean and the average output of 5000$ to find the power test ?
Can someone help me with this topic?
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