A retailer wants to see if a red "Sale" sign brings in more revenue than the same "Sale" sign in blue. The data below shows the revenue in thousands of dollars that was achieved for various days when the retailer decided to put the red "Sale" sign up and days when the retailer decided to put the blue "Sale" sign up. Red: 2.7, 2.6, 1.1, 4.2, 2.6, 3.4, 2.3, 2.9, 4, 2.6 Blue: 2.2, 1, 2.8, 1.6, 0.6, 0.9, 1, 1.7, 3.4 Assume that both populations follow a normal distribution. What can be concluded at the a = 0.01 level of significance level of significance? b. The test statistic (to) ✓ = (please show your answer to 3 decimal places.) c. The p-value = (Please show your answer to 4 decimal places.)
A retailer wants to see if a red "Sale" sign brings in more revenue than the same "Sale" sign in blue. The data below shows the revenue in thousands of dollars that was achieved for various days when the retailer decided to put the red "Sale" sign up and days when the retailer decided to put the blue "Sale" sign up. Red: 2.7, 2.6, 1.1, 4.2, 2.6, 3.4, 2.3, 2.9, 4, 2.6 Blue: 2.2, 1, 2.8, 1.6, 0.6, 0.9, 1, 1.7, 3.4 Assume that both populations follow a normal distribution. What can be concluded at the a = 0.01 level of significance level of significance? b. The test statistic (to) ✓ = (please show your answer to 3 decimal places.) c. The p-value = (Please show your answer to 4 decimal places.)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Transcribed Image Text:A retailer wants to see if a red "Sale" sign brings in more
revenue than the same "Sale" sign in blue. The data below
shows the revenue in thousands of dollars that was achieved
for various days when the retailer decided to put the red
"Sale" sign up and days when the retailer decided to put the
blue "Sale" sign up.
Red: 2.7, 2.6, 1.1, 4.2, 2.6, 3.4, 2.3, 2.9,
4, 2.6
Blue: 2.2, 1, 2.8, 1.6, 0.6, 0.9, 1, 1.7,
3.4
Assume that both populations follow a normal distribution.
What can be concluded at the a = 0.01 level of significance
level of significance?
b. The test statistic t î
=
(please show
your answer to 3 decimal places.)
c. The p-value =
(Please show your answer to
4 decimal places.)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman