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Test and Interpret Lifetime Value in California and Florida

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See attached file.

You are interested in understanding whether the average Lifetime Value (the net present value of all the transactions expected from a customer) for the customers in the Florida is significantly different from those in California. You suspect that the California LTV (Lifetime value) would be higher than in Florida. In order to test this hypothesis, you pick 10 customers each in the California and Florida and record their LTV(in dollars). The data is in LTV.sav. State the appropriate hypothesis, run the appropriate test using SPSS and provide interpretation.

If regression is used, please provide the multi comparison table.
To open up the data file you will need spss

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Solution Summary

This solution provides a detailed tutorial for the the given statistics assignment.

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First, open the LTV.sav file in SPSS. Then click on Analyze...Compare means...Independent samples t-test as shown below.
(please see the attached file)

Next put the variable Life Time Value (LTV) in the box labeled Test Variable(s)...Then put the variable "State" in the Grouping variable box as shown below then click the "Define Groups" button. Type 1 in the box labeled "Group 1" and put a 2 in the box labeled "Group 2". Click "Continue" and then click "OK".

(please see the attached file)

SPSS will produce the following output in a file that can be ...

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