Homework Help is Here – Start Your Trial Now!
Math
Statistics
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: 3.3, 1.9, 3.1, 2.3, 2.4, 1.7, 3.3, 2.6, 2.1, 2.1 Blue: 3.7, 5, 4.3, 3.4, 2.2, 3.7, 3.4, 2.4, 3.7, 3.1 Assume that both populations followa 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 alternativ Select an answer z-test for a population proportion Ho: Select an answer v H: Select an answer 1-test for the difference between two dependent population means b. The test statistic t vt-test for a population mean c. The p-value = 0.0112 d. The p-value is >va e. Based on this, we shoul f. Thus, the final conclusi test for the difference between two independent population means z-test for the difference between two population proportions O The results are s lo conclude

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: 3.3, 1.9, 3.1, 2.3, 2.4, 1.7, 3.3, 2.6, 2.1, 2.1 Blue: 3.7, 5, 4.3, 3.4, 2.2, 3.7, 3.4, 2.4, 3.7, 3.1 Assume that both populations followa 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 alternativ Select an answer z-test for a population proportion Ho: Select an answer v H: Select an answer 1-test for the difference between two dependent population means b. The test statistic t vt-test for a population mean c. The p-value = 0.0112 d. The p-value is >va e. Based on this, we shoul f. Thus, the final conclusi test for the difference between two independent population means z-test for the difference between two population proportions O The results are s lo conclude

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
See similar textbooks
icon
Related questions
icon
Concept explainers
Topic Video
Question

Can you answer drop-down question on screenshot and questions G AND H

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: 3.3, 1.9, 3.1, 2.3, 2.4, 1.7, 3.3, 2.6, 2.1, 2.1 Blue: 3.7, 5, 4.3, 3.4, 2.2, 3.7, 3.4, 2.4, 3.7, 3.1 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 alternativ Select an answer z-test for a population proportion Ho: Select an answer v H: Select an answer vt-test for the difference between two dependent population means b. The test statistic t Vt-test for a population mean c. The p-value =0.0112 d. The p-value is > vaz-test for the difference between two population proportions e. Based on this, we shoul f. Thus, the final conclusi test for the difference between two independent population means O The results are s 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. lo conclude 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. © 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 ten 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. Olf the sample mean revenue for the 10 days with a red "Sale" sign is the same as the sample mean revenue for the 10 days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 10 days with a blue "Sale" sign are observed then there would be a 0.58% chance of concluding that the mean revenue for the 10 days with a red "Sale" sign differs at least 1 thousand dollars compared to the mean revenue for the 10 days with a blue "Sale" sign O There is a 0.58% chance of a Type I error. search G M)
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: 3.3, 1.9, 3.1, 2.3, 2.4, 1.7, 3.3, 2.6, 2.1, 2.1 Blue: 3.7, 5, 4.3, 3.4, 2.2, 3.7, 3.4, 2.4, 3.7, 3.1 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 alternativ Select an answer z-test for a population proportion Ho: Select an answer v H: Select an answer vt-test for the difference between two dependent population means b. The test statistic t Vt-test for a population mean c. The p-value =0.0112 d. The p-value is > vaz-test for the difference between two population proportions e. Based on this, we shoul f. Thus, the final conclusi test for the difference between two independent population means O The results are s 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. lo conclude 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. © 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 ten 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. Olf the sample mean revenue for the 10 days with a red "Sale" sign is the same as the sample mean revenue for the 10 days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 10 days with a blue "Sale" sign are observed then there would be a 0.58% chance of concluding that the mean revenue for the 10 days with a red "Sale" sign differs at least 1 thousand dollars compared to the mean revenue for the 10 days with a blue "Sale" sign O There is a 0.58% chance of a Type I error. search G M)
b. The test statistic t v = -3.174 (please show your answer to 3 decimal places.) c. The p-value = 0.0112 d. The p-value is >va e. Based on this, we should reject f. Thus, the final conclusion is that ... (Please show your answer to 4 decimal places.) v the null hypothesis. O 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 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 ten 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 10 days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 10 days with a blue "Sale" sign are observed then there would be a 0.58% chance of concluding that the mean revenue for the 10 days with a red "Sale" sign differs at least 1 thousand dollars compared to the mean revenue for the 10 days with a blue "Sale" sign O There is a 0.58% chance of a Type I error. Olf 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 10 days with a blue "Sale" sign are observed then there would be a 0.58% chance that the mean revenue for the 10 days with a red "Sale" sign would differ by at least 1 thousand dollars from the mean revenue for the 10 days with a blue "Sale" sign O There is a 0.58% chance that the mean revenue for the 10 days with a red "Sale" sign differs by least 1 thousand dollars compared to the mean revenue for the 10 days with a blue "Sale" sign. h. Interpret the level of significance in the context of the study. 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 10 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 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 There is a 10% chance that green is your favorite color, so why woud you even consider red or blue? O f 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 10 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 10 days with a blue "Sale" sign differ from each other.
Transcribed Image Text:b. The test statistic t v = -3.174 (please show your answer to 3 decimal places.) c. The p-value = 0.0112 d. The p-value is >va e. Based on this, we should reject f. Thus, the final conclusion is that ... (Please show your answer to 4 decimal places.) v the null hypothesis. O 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 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 ten 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 10 days with a blue "Sale" sign and if another 10 days with a red "Sale" sign and 10 days with a blue "Sale" sign are observed then there would be a 0.58% chance of concluding that the mean revenue for the 10 days with a red "Sale" sign differs at least 1 thousand dollars compared to the mean revenue for the 10 days with a blue "Sale" sign O There is a 0.58% chance of a Type I error. Olf 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 10 days with a blue "Sale" sign are observed then there would be a 0.58% chance that the mean revenue for the 10 days with a red "Sale" sign would differ by at least 1 thousand dollars from the mean revenue for the 10 days with a blue "Sale" sign O There is a 0.58% chance that the mean revenue for the 10 days with a red "Sale" sign differs by least 1 thousand dollars compared to the mean revenue for the 10 days with a blue "Sale" sign. h. Interpret the level of significance in the context of the study. 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 10 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 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 There is a 10% chance that green is your favorite color, so why woud you even consider red or blue? O f 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 10 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 10 days with a blue "Sale" sign differ from each other.
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Centre, Spread, and Shape of a Distribution
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
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 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…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
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
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS