Suppose you have a product which you sell in two markets of comparable size

| August 30, 2017

Question
Suppose you have a product which you sell in two markets of comparable size and you want to test the hypothesis that the demand for the product is the same in the two markets. In practice you test that the quantity demanded is the same and find that for sample of 17 different time periods with different prices the average quantity demanded in the first market is 1765 and in the second market it is 1688. The standard deviation of the differences is 60.5. What is the test statistic? Answer to two decimal places.

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