02:05:32 Time Remaining K Submit 2. [22 pt.] As a member of the international strategic management team, you are assigned the task of exploring potential foreign market entry. To conduct initial analysis, you randomly selected 4 developed countries and 7 emerging countries and collected data about the time required to start a business, defined as the number of days needed to complete the procedure to legally operate a business, from the countries as follows (Assume that population distribution is normal). The observed number of days Sample Mean Sample Variance Developed countries (A) 27 6 18 13 XA = 16.00 S = 78.00 Emerging countries (B) 26 23 18 19 13 11 16 XB = 18.00 B = 28.00 Upper critical values, where P (Z > Za) = Q, P (t > tadf ) = c and P (F > Fadfl,d/2) = Q Zo.01 -2.3263 Zo.005-2.5758 to.01,6= 3.1427 to.005,6 = 3.7074 to.01,9= 2.8214 to.005.9= 3.2498 Fo.01,3,6- 9.7795 Fo.005,3,6- 12.9166 2.1) [5 pt.] At the 0.01 level of significance, is there evidence that the population mean time of developed countries is 20 days when the population variance is known as 6.00? Answer based on the critical value approach. Show the work: a) your hypotheses, b) test statistic, c) critical value, and d) decision. 2.2) [5 pt.] At the 0.01 level of significance, is there evidence that the population mean of emerging countries is less than 25 days when the population variance is unknown? Answer based on the critical value approach. Show the work: a) your hypotheses, b) test statistic, c) critical value, and d) decision. 2.3) [6 pt.] Using a 0.01 level of significance, is there a difference in the variability of time required to start a business between developed countries and emerging countries? Assume that A and of are the population standard deviations of salaries of developed countries and emerging countries, respectively. Answer based on the critical value approach. Show the work: a) your hypotheses, b) test statistic, c) critical value, and d) decision. 2.4) [6 pt.] At the 0.01 level of significance, is there evidence of a difference in mean time required to start a business between developed countries and emerging countries? Answer based on the critical value approach assuming the populations of developed countries and emerging countries follow normal distributions whose unknown population variances MacBook Air