Question
A retailer wants to see if a red Sale sign brings in more revenue than the same Sale sign in blue. The data below
A retailer wants to see if a red "Sale" sign brings in more 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: 2.8, 2.1, 2.7, 2.5, 2.7, 3.5, 2.7, 2, 3.8 Blue: 2.4, 2.5, 3.3, 1.3, 4.3, 2.8, 3.3, 2.3, 1.6 Assume that both populations follow a normal distribution. What can be concluded at the a = 0.01 level of significance level of significance? For this study, we should use Select an answer a. The null and alternative hypotheses would be: Ho: Select an answer Select an answer Select an answer (please enter a decimal) H: Select an answer b. The test statistic? c. The p-value= Select an answer Select an answer (Please enter a decimal) d. The p-value is ? a = (please show your answer to 3 decimal places.) (Please show your answer to 4 decimal places.) e. Based on this, we should Select an answer f. Thus, the final conclusion is that... the null hypothesis. The results are statistically insignificant at a = 0.01, so there is insufficient evidence to conclude that the population mean revenue on days with a red "Sale" sign is more than the population mean revenue on days with a blue "Sale" sign. The results are statistically significant at a = 0.01, so there is sufficient evidence to conclude that the mean revenue for the nine days with a red "Sale" sign is more than the mean revenue for the nine days with a blue "Sale" sign. The results are statistically insignificant at a = 0.01, 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 = 0.01, so there is sufficient evidence to conclude that the population mean revenue on days with a red "Sale" sign is more than the population
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