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What Test to Run โ€“ Help!

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  • #54088

    Hi there,

    I have a set of data with about 300 line items. With a Yes or No column and then a $$amount

    The 2 variables are the following:

    1. If the medical instrument has the updated accessories or not. So Yes or No
    2. Average revenue over 3 years

    I am trying to see if there is a correlation between accessories to more revenue. Or if there is a statisical difference that exists?

    I am not sure what test to run?? Is what I am looking for correct?

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    #193517

    MBBinWI
    Participant

    @safarbags = you have a yes or no variable and then one which identifies a continuous variable on how much. Which test accomodates such a scenario?

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    #193521

    SpeedyT
    Member

    One of the most difficult things to do in any analysis if figure out what is my X and what is my Y. In your case, “Yes/No” is the X and you are trying to use this X to tell you something about the Average Revenue (the Y). Your X data is attribute and your Y is variable. Run a 1 factor ANOVA. (Minitab==>STAT==>ANOVA==>One-way Use the MInitab help to understand the results. (if your p<=0.05 then X has a significant impact on Y (95% conf)
    Hope that helps.

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    #193522

    HI MBBin WI,

    So is there no test that will accomodate this scenario? What about correlation?

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    #193523

    Hi Doug,

    Thanks for the response. When I run the test I am not getting a p value. I am seeing only a rsquared

    Can you email me at [email protected] so we can discuss? Thanks SO MUCH

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    #193524

    MBBinWI
    Participant

    @safarbags – No, correlation must be between two contiuous variables.

    While Doug gave you the more universal test, there is a more specific test that would be better in this situation. You have two criterion (Yes/No) and (I’ll assume) a continuous response variable (avg revenue for the past 3 years). For this scenario a 2 sample t test would be appropriate. If you had the avg revenue for the machines prior to and post upgrade, then you could do a paired t test which would be the best as you would then be comparing more specifically the before/after by machine.

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    #193525

    Hi MBBinWI

    Well there was no data for when it was upgraded or not. All I have is a file with Yes or No then the revenue. So I can use a 2 sample T test?

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    #193528

    MBBinWI
    Participant

    @safarbags – yes, and a graphical way to show the differences would be to use a box/whisker plot.

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