This Case Study will allow you to demonstrate your knowledge of Means (A/B) Testing and Variance Testing.
Before we get into that, however, I have some detailed videos that show you the concepts behind each. In addition, I have also provided videos that show you how to do each test. Click the Khan Academy (Links to an external site.) link to find learn more about means testing and the math behind it. Click the YouTube link to find a video where I demonstrate how to do Mean and Variance Testing in Excel
Now that you know how to conduct a test for variances and means, use that knowledge to complete the following Case Study. Seacoast Bank wants to find out how much time (in seconds) it takes to complete transactions for each of three methods. So they clocked the procedures and averaged them over the last month. The results are to the left. Of course, we know that the lower the time, the faster the method.
- Formulate and test the hypotheses to determine if the variances are different.
- Formulate and test the hypotheses to determine if the means are different.
Note: You will conduct three separate tests for F tests and three for t tests.
test 1: Face to Face vs ATM
test 2: Face to Face vs Online
test 3: ATM vs Online
3. Write a report detailing your hypotheses, the test procedures you did, and the results. Remember…
- Cover Page
- One Page Summary
- Appendix with the Tables (there should be six; three for F tests and three for t tests).