Question
Do sit down restaurant franchises and fast food franchises differ significantly in stock price? Specifically, is the average stock price for sit-down restaurants greater than
Do sit down restaurant franchises and fast food franchises differ significantly in stock price? Specifically, is the average stock price for sit-down restaurants greater than the average stock price for fast food restaurants? If sit down restaurants are in group 1 and fast food restaurants are in group 2, the hypotheses for this scenario are as follows: Null Hypothesis: 1 2, Alternative Hypothesis: 1 > 2. In a random sample of 21 sit down restaurants, you find that the average stock price is $149.755 with a standard deviation of $27.7643. For 57 fast food restaurants, the average stock price is $153.264 with a standard deviation of $18.535. Conduct a two independent sample t-test. What is the test statistic and p-value for this test? Assume the population standard deviations are the same.
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