Question

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Two of your bigger stores (at Chatswood and Parramatta) had the same number of items shoplifted, but the Chatswood store lost a total of $763.00 and the Parramatta store lost a total of $466.00 in the month. You suspect that more expensive items are easier to steal at the Chatswood store because of the store layout. If the Chatswood store changed their layout to be similar to the Parramatta store, they might have fewer losses. Before you recommend that Chatswood changes their store layout, you first need to check that the differences in losses was statistically significant, and not just a chance difference this month. You run a t-test to compare the average loss per item between stores for the month. The output is as follows: t-Test: Two-Sample Assuming Unequal Variances Chatswood Parramatta Mean 95.375 58.25 Variance 625.9821429 1440.5 Observations 8 8 Hypothesized Mean Difference 0 df 12 t Stat 2.309913023 P(T