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A retailer wants to see if a red "Sale" sign brings in the same amount of 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: 2.6, 2.3, 2.9, 2.9, 1.9, 1.8, 3.8, 3.7, 1.6, 3 Blue: 2.6, 4, 4.8, 3.8, 2.9, 4.8, 3.7, 5.2, 3.9 Assume that both populations follow a normal distribution. What can be concluded at the a = 0.10 level of significance level of significance? For this study, we should use Select an answer a The pull and alternative hypotheses would be:

A retailer wants to see if a red "Sale" sign brings in the same amount of 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: 2.6, 2.3, 2.9, 2.9, 1.9, 1.8, 3.8, 3.7, 1.6, 3 Blue: 2.6, 4, 4.8, 3.8, 2.9, 4.8, 3.7, 5.2, 3.9 Assume that both populations follow a normal distribution. What can be concluded at the a = 0.10 level of significance level of significance? For this study, we should use Select an answer a The pull and alternative hypotheses would be:

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A retailer wants to see if a red "Sale" sign brings in the same amount of 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: 2.6, 2.3, 2.9, 2.9, 1.9, 1.8, 3.8, 3.7, 1.6, 3 Blue: 2.6, 4, 4.8, 3.8, 2.9, 4.8, 3.7, 5.2, 3.9 Assume that both populations follow a normal distribution. What can be concluded at the a = 0.10 level of significance level of significance? For this study, we should use Select an answer a. The null and alternative hypotheses would be: Ho: Select an answer H₁: Select an answer ✓ Select an answer ✓ Select an answer ✓ Select an answer ✓ (please enter a decimal) Select an answer (Please enter a decimal) b. The test statistic ? ✓ = c. The p-value = d. The p-value is ? ✓ a e. Based on this, we should | Select an answer the null hypothesis. f. Thus, the final conclusion is that ... (please show your answer to 3 decimal places.) (Please show your answer to 4 decimal places.) The results are statistically significant at a = 0.10, so there is sufficient evidence to conclude that the mean revenue for the ten days with a red "Sale" sign is not the same as the mean revenue for the nine days with a blue "Sale" sign. The results are statistically significant at a = 0.10, so there is sufficient evidence to conclude that the population mean revenue on days with a red "Sale" sign is not the same as the population mean revenue on days with a blue "Sale" sign. O The results are statistically insignificant at a = 0.10, so there is statistically significant evidence to conclude that the population mean revenue on days with a red "Sale" sign is equal to the population mean revenue on days with a blue "Sale" sign. O The results are statistically insignificant at a = 0.10, so there is insufficient evidence to conclude that the population mean revenue on days with a red "Sale" sign is not the same as the population mean revenue on days with a blue "Sale" sign.
Transcribed Image Text:A retailer wants to see if a red "Sale" sign brings in the same amount of 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: 2.6, 2.3, 2.9, 2.9, 1.9, 1.8, 3.8, 3.7, 1.6, 3 Blue: 2.6, 4, 4.8, 3.8, 2.9, 4.8, 3.7, 5.2, 3.9 Assume that both populations follow a normal distribution. What can be concluded at the a = 0.10 level of significance level of significance? For this study, we should use Select an answer a. The null and alternative hypotheses would be: Ho: Select an answer H₁: Select an answer ✓ Select an answer ✓ Select an answer ✓ Select an answer ✓ (please enter a decimal) Select an answer (Please enter a decimal) b. The test statistic ? ✓ = c. The p-value = d. The p-value is ? ✓ a e. Based on this, we should | Select an answer the null hypothesis. f. Thus, the final conclusion is that ... (please show your answer to 3 decimal places.) (Please show your answer to 4 decimal places.) The results are statistically significant at a = 0.10, so there is sufficient evidence to conclude that the mean revenue for the ten days with a red "Sale" sign is not the same as the mean revenue for the nine days with a blue "Sale" sign. The results are statistically significant at a = 0.10, so there is sufficient evidence to conclude that the population mean revenue on days with a red "Sale" sign is not the same as the population mean revenue on days with a blue "Sale" sign. O The results are statistically insignificant at a = 0.10, so there is statistically significant evidence to conclude that the population mean revenue on days with a red "Sale" sign is equal to the population mean revenue on days with a blue "Sale" sign. O The results are statistically insignificant at a = 0.10, so there is insufficient evidence to conclude that the population mean revenue on days with a red "Sale" sign is not the same as the population mean revenue on days with a blue "Sale" sign.
g. Interpret the p-value in the context of the study. O If the sample mean revenue for the 10 days with a red "Sale" sign is the same as the sample mean revenue for the 9 days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign are observed then there would be a 0.3% chance of concluding that the mean revenue for the 10 days with a red "Sale" sign differs at least 1.3 thousand dollars compared to the mean revenue for the 9 days with a blue "Sale" sign O If the population mean revenue on days with a red "Sale" sign is the same as the population mean revenue on days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign are observed then there would be a 0.3% chance that the mean revenue for the 10 days with a red "Sale" sign would differ by at least 1.3 thousand dollars from the mean revenue for the 9 days with a blue "Sale" sign. There is a 0.3% chance that the mean revenue for the 10 days with a red "Sale" sign differs by least 1.3 thousand dollars compared to the mean revenue for the 9 days with a blue "Sale" sign. O There is a 0.3% chance of a Type I error. h. Interpret the level of significance in the context of the study. There is a 10% chance that there is a difference in the population mean revenue on days with a red "Sale" sign and on days with a blue "Sale" sign. O If the population mean revenue on days with a red "Sale" sign is the same as the population mean revenue on days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign are observed then there would be a 10% chance that we would end up falsely concluding that the population mean revenue for the days with a red "Sale" sign is not the same as the population mean revenue on days with a blue "Sale" sign O There is a 10% chance that green is your favorite color, so why woud you even consider red or blue? O If the population mean revenue on days with a red "Sale" sign is the same as the population mean revenue on days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign are observed, then there would be a 10% chance that we would end up falsely concluding that the sample mean revenue for these 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign differ from each other.
Transcribed Image Text:g. Interpret the p-value in the context of the study. O If the sample mean revenue for the 10 days with a red "Sale" sign is the same as the sample mean revenue for the 9 days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign are observed then there would be a 0.3% chance of concluding that the mean revenue for the 10 days with a red "Sale" sign differs at least 1.3 thousand dollars compared to the mean revenue for the 9 days with a blue "Sale" sign O If the population mean revenue on days with a red "Sale" sign is the same as the population mean revenue on days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign are observed then there would be a 0.3% chance that the mean revenue for the 10 days with a red "Sale" sign would differ by at least 1.3 thousand dollars from the mean revenue for the 9 days with a blue "Sale" sign. There is a 0.3% chance that the mean revenue for the 10 days with a red "Sale" sign differs by least 1.3 thousand dollars compared to the mean revenue for the 9 days with a blue "Sale" sign. O There is a 0.3% chance of a Type I error. h. Interpret the level of significance in the context of the study. There is a 10% chance that there is a difference in the population mean revenue on days with a red "Sale" sign and on days with a blue "Sale" sign. O If the population mean revenue on days with a red "Sale" sign is the same as the population mean revenue on days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign are observed then there would be a 10% chance that we would end up falsely concluding that the population mean revenue for the days with a red "Sale" sign is not the same as the population mean revenue on days with a blue "Sale" sign O There is a 10% chance that green is your favorite color, so why woud you even consider red or blue? O If the population mean revenue on days with a red "Sale" sign is the same as the population mean revenue on days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign are observed, then there would be a 10% chance that we would end up falsely concluding that the sample mean revenue for these 10 days with a red "Sale" sign and 9 days with a blue "Sale" sign differ from each other.
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