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determine p value and its meaning please

determine p value and its meaning please

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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determine p value and its meaning please 

 

### Statistical Analysis of the Time Required to Start a Business This analysis investigates whether there is a significant difference in the mean time required to start a business between developed and emerging countries. The data includes days needed to complete business procedures in 20 developed countries and 20 emerging countries. #### Hypotheses Let \( \mu_1 \) be the mean time for developed countries, and \( \mu_2 \) for emerging countries. We are testing the following hypotheses: - **Null Hypothesis (\( H_0 \))**: \( \mu_1 = \mu_2 \) - **Alternative Hypothesis (\( H_1 \))**: \( \mu_1 \neq \mu_2 \) The chosen hypothesis (C) indicates a two-tailed test. #### Data Table A table shows the number of days required to start a business in developed and emerging countries: - **Developed Countries (days):** 25, 115, 7, 33, 8, 6, 29, 6, 7, 8 - **Emerging Countries (days):** 30, 10, 17, 19, 7, 11, 22, 26, 7, 24, 23, 3 #### Statistical Analysis - **Test Statistic:** - \( t_{\text{STAT}} = 1.75 \) (rounded to two decimal places) - **Critical Values:** - Chosen value: \( t_{\alpha/2} = \pm 2.02 \) #### Conclusion Based on the test statistic and critical values: - **Conclusion:** - Fail to reject \( H_0 \). There is insufficient evidence of a difference in mean time required to start a business. #### Interpretation of P-value - **P-value interpretation is required but not included in this snippet.** This analysis assumes equal population variances and uses a significance level \( \alpha = 0.05 \).
Transcribed Image Text:### Statistical Analysis of the Time Required to Start a Business This analysis investigates whether there is a significant difference in the mean time required to start a business between developed and emerging countries. The data includes days needed to complete business procedures in 20 developed countries and 20 emerging countries. #### Hypotheses Let \( \mu_1 \) be the mean time for developed countries, and \( \mu_2 \) for emerging countries. We are testing the following hypotheses: - **Null Hypothesis (\( H_0 \))**: \( \mu_1 = \mu_2 \) - **Alternative Hypothesis (\( H_1 \))**: \( \mu_1 \neq \mu_2 \) The chosen hypothesis (C) indicates a two-tailed test. #### Data Table A table shows the number of days required to start a business in developed and emerging countries: - **Developed Countries (days):** 25, 115, 7, 33, 8, 6, 29, 6, 7, 8 - **Emerging Countries (days):** 30, 10, 17, 19, 7, 11, 22, 26, 7, 24, 23, 3 #### Statistical Analysis - **Test Statistic:** - \( t_{\text{STAT}} = 1.75 \) (rounded to two decimal places) - **Critical Values:** - Chosen value: \( t_{\alpha/2} = \pm 2.02 \) #### Conclusion Based on the test statistic and critical values: - **Conclusion:** - Fail to reject \( H_0 \). There is insufficient evidence of a difference in mean time required to start a business. #### Interpretation of P-value - **P-value interpretation is required but not included in this snippet.** This analysis assumes equal population variances and uses a significance level \( \alpha = 0.05 \).
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