With the pandemic, cleaning and sanitation products have become increasingly more popular. Pfizer is trying to expand their sales and market share among producers of hand sanitizer and would like to purchase advertising space on a major TV network during prime time. CBS and NBC seem to be the most likely options but Pfizer would like to test and see if there is really a difference in the viewership (which would influence their decision). Over the past 20 weeks, CBS has averaged 5.7 million viewers on Monday nights at the 8 PM timeslot with a standard deviation of .65 million viewers. NBC on the other hand has averaged 6.2 million viewers with a standard deviation of 1.3 million viewers. a.) With an alpha of .05, construct a hypothesis test to see if there is a difference in viewership between the two networks. b.) Construct a 95% confidence interval for the difference. c.) Which network would you go with based on your tests?
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
1.) With the pandemic, cleaning and sanitation products have become increasingly more popular. Pfizer is trying to expand their sales and market share among producers of hand sanitizer and would like to purchase advertising space on a major TV network during prime time. CBS and NBC seem to be the most likely options but Pfizer would like to test and see if there is really a difference in the viewership (which would influence their decision). Over the past 20 weeks, CBS has averaged 5.7 million viewers on Monday nights at the 8 PM timeslot with a standard deviation of .65 million viewers. NBC on the other hand has averaged 6.2 million viewers with a standard deviation of 1.3 million viewers.
a.) With an alpha of .05, construct a hypothesis test to see if there is a difference in viewership between the two networks.
b.) Construct a 95% confidence interval for the difference.
c.) Which network would you go with based on your tests?
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