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: 3.6. 3.1, 3.5, 3.1, 1.5, 4.2, 3.6, 1.9, 3, 3.4 Blue: 3.4, 2.6, 3.4. 2.3, 3.5, 3.3, 2.9, 3.9, 4.6, 3.9 Assume that both populations follow a normal distribution. What can be concluded at the x = 0.05 level of significance level of significance? For this study, we should use t-test for the difference between two independent population means ✔ He: 1 888 a. The null and alternative hypotheses would be: H₁: u1 888 b. The test statistic c. The p-value= d. The p-value is V a u2 e. Based on this, we should [fail to reject oº µ2 (please enter a decimal) (Please enter a decimal) (please show your answer to 3 decimal places.) (Please show your answer to 4 decimal places.) the null hypothesis. f. Thus, the final conclusion is that ... The results are statistically insignificant at x = 0.05, 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. The results are statistically insignificant at a = 0.05, 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. The results are statistically significant at a = 0.05, 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 significant at a = 0.05, 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 ten days with a blue "Sale" sign.
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: 3.6. 3.1, 3.5, 3.1, 1.5, 4.2, 3.6, 1.9, 3, 3.4 Blue: 3.4, 2.6, 3.4. 2.3, 3.5, 3.3, 2.9, 3.9, 4.6, 3.9 Assume that both populations follow a normal distribution. What can be concluded at the x = 0.05 level of significance level of significance? For this study, we should use t-test for the difference between two independent population means ✔ He: 1 888 a. The null and alternative hypotheses would be: H₁: u1 888 b. The test statistic c. The p-value= d. The p-value is V a u2 e. Based on this, we should [fail to reject oº µ2 (please enter a decimal) (Please enter a decimal) (please show your answer to 3 decimal places.) (Please show your answer to 4 decimal places.) the null hypothesis. f. Thus, the final conclusion is that ... The results are statistically insignificant at x = 0.05, 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. The results are statistically insignificant at a = 0.05, 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. The results are statistically significant at a = 0.05, 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 significant at a = 0.05, 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 ten days with a blue "Sale" sign.
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter1: Basic Concepts And Properties
Section1.CR: Review Problem Set
Problem 66CR
Related questions
Question
Need C and D please
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: 3.6. 3.1, 3.5, 3.1, 1.5, 4.2, 3.6, 1.9, 3, 3.4
Blue: 3.4, 2.6, 3.4. 2.3, 3.5, 3.3, 2.9, 3.9, 4.6, 3.9
Assume that both populations follow a normal distribution. What can be concluded at the ax = 0.05 level
of significance level of significance?
For this study, we should use t-test for the difference between two independent population means
He: 1
O
a. The null and alternative hypotheses would be:
9995
H₁: 1
b. The test statistic tv =
c. The p-value =
d. The p-value is
a
u2
e. Based on this, we should fail to reject
(please enter a decimal)
✓ (Please enter a decimal)
(please show your answer to 3 decimal places.)
(Please show your answer to 4 decimal places.)
the null hypothesis.
f. Thus, the final conclusion is that ...
The results are statistically insignificant at = 0.05, 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.
The results are statistically insignificant at a = 0.05, 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.
The results are statistically significant at a = 0.05, 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.
The results are statistically significant at a = 0.05, 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 ten days with a blue "Sale" sign.
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