A t-test is a test of statistical significance used by statisticians to identifying patterns
in a particular set of data that are unlikely to be the result of chance. MarketSight is a very easy-to-use
web-based software application that enables you to run t-tests and other stat tests. MarketSight automatically
selects the right stat test for you, based on your data, so you don’t have to choose between a t-test, an f-test,
or a z-test in any given situation. MarketSight does the work for you.
Stat tests are critical in determining significance within the data, but many of us have not had the
benefit of extensive statistical training. There are actually many more tests, other than the t-test,
that can be appropriate, depending on whether you’re comparing means or column proportions.
The t-test, in the form of Fisher’s Least Significant Difference (LSD), for example, is used to test
whether or not two independent Means are equal to one another. In MarketSight, a modified version of the
t-test is run for multiple response variables (MRVs) - those questions where multiple answers may be selected,
for both contrast and pairwise tests.
Based on the t-test or other tests that are run, MarketSight can highlight items of statistical significance
in your crosstab using color coding, helping you to focus on these important items within the data. The name of
the test and the p-value can optionally be displayed in a pop-up.
MarketSight an attractive solution for data analysis because it selects the right test for you, a tremendous
benefit for users who don’t have an in-depth statistical background. It’s also an excellent tool for stat experts,
because they can set advanced options for their particular needs.
MarketSight automatically runs t-tests and other Stat tests
MarketSight charts can include statistical significance notation on charts