Please provide the hypothesis, test statistics formula(s), calculations and results, decision of whether or rejecting the hypothesis, and the business conclusion. Also, determine the p-value for the test.
Media observers have been examining the number of minutes devoted to business and financial during the half-hour evening news broadcasts of two local television channels. For each channel, the Vice President of Marketing Research has randomly selected weekly broadcasts and observed the number of minutes spent on business and financial news during that broadcast and they are given in the following table. At 0.05 significance level, can the Vice President conclude that the average time devoted to business and financial news during the half-hour evening news for these channels could be different? The Vice President assumes that these independent samples are taken from normal populations.
Channel 2
3.8
2.7
4.9
3.4
3.8
4.5
4.2
2.8
3.5
4.6
4.3
Channel 5
6.6
4.0
4.5
5.2
4.8
4.3
5.7
3.5
3.7
5.8
5.9
Please provide the hypothesis, test statistics formula(s), calculations and results, decision of whether or rejecting the hypothesis, and the business conclusion. Also, determine the p-value for the test.
A. Provide the hypothesis
B. Provide the test statistics formula
C. Conduct the calculations and provide results
D. Discuss the decision of whether or not to reject the hypothesis
E. Discuss the business conclusion
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