0
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I have a data set like this:

User      price     converted   time
 A         10          0        1st April
 B         12          0        2nd April
 C         10          1        3rd April 
 D         10          0        4th April
 E         12          1        4th April
 F         10          0        4th April
 G         10          0        5th April
 ...
 ...
 ...
 Z         12          1        23rd September

and so on

Out of the total user base, 75% were shown price of 10 and rest 25% were shown price of 12. I want to find out the which price should I keep for the product.

Also, since this experiment ran for 6 Months, how many days after the first day should the company have stopped the experiment?

I am thinking of using t-test but need to know of a better way of doing this.

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  • $\begingroup$ You first question is statistics related, but the second one (when to finished the experiment) I believe is not. Certainly they are two different questions. Regarding the first one, you want to select the price based on what? $\endgroup$ – Lucas Farias Apr 2 at 21:33
  • $\begingroup$ I want to select the optimum price point. So basically find out which gets the highest revenues for the company. $\endgroup$ – Kshitij Yadav Apr 2 at 23:33
  • $\begingroup$ Revenue or profit? Also, with info only on how many people bough the product at a specific price this problem is not well-posed. What does converted means? $\endgroup$ – Lucas Farias Apr 2 at 23:40
  • $\begingroup$ So we don't have any information regarding the manufacturing and marketing cost so can't take out profit. I am betting on revenue. Converted means bought that product $\endgroup$ – Kshitij Yadav Apr 2 at 23:42

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