Test if there is a significant difference in the difference in purchase potential of the product: а. Using an excel spreadsheet; and

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter7: Integration
Section7.CR: Chapter 7 Review
Problem 88CR
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5
Economics
1. A market research firm wants to determine if the purchase potential of a product is changed
by a TV commercial. Eight individuals were selected. Each individual is asked to rate
purchase potential of a product on a scale of one to ten before watching the commercial and
rate the purchase potential of the product after watching the commercial. The data on these
individuals is presented in Table Q1.1.
Purchase Potential Before Watching
Purchase Potential After Watching
Individual
Commercial
Commercial
1
5
2
4
7
7
4
4
3
6
8
7
7
8
6
6
Test if there is a significant difference in the difference in purchase potential of the product:
Using an excel spreadsheet; and
Using GRETL.
a.
b.
Use a significance level of 0.05.
Transcribed Image Text:Economics 1. A market research firm wants to determine if the purchase potential of a product is changed by a TV commercial. Eight individuals were selected. Each individual is asked to rate purchase potential of a product on a scale of one to ten before watching the commercial and rate the purchase potential of the product after watching the commercial. The data on these individuals is presented in Table Q1.1. Purchase Potential Before Watching Purchase Potential After Watching Individual Commercial Commercial 1 5 2 4 7 7 4 4 3 6 8 7 7 8 6 6 Test if there is a significant difference in the difference in purchase potential of the product: Using an excel spreadsheet; and Using GRETL. a. b. Use a significance level of 0.05.
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