Part B- A medical researcher tested a new treatment for poison ivy against the traditional ointment. He concluded that the new treatment is more effective. Explain what P-Value of 0.047 means in this context. 2. (20 POINTS) In each of the following situations, a) g. h. i. Write appropriate hypotheses (i.e. Determine and setup the hypothesis test.) ii. Decide the direction of hypothesis test. iii. Indicate where the claim is located. A business student conducts a taste test to see whether students prefer Diet Coke or Diet Pepsi. PepsiCo recently reformulated Diet Pepsi in an attempt to appeal to teenagers. The company runs a taste test to see if the new formula appeals to more teenagers than the standard formula. A budget override in a small town requires a two-thirds majority to pass. A local newspaper conducts a poll to see if there's evidence it will pass. One nancial theory states that he stock market will go up or down with equal probability. A student collects data over several years to test the theory. A college dining service conducts a survey to see if students prefer plastic or metal cutlery. In recent years, 10% of college juniors have applied for study abroad. The dean's office conducts a survey to see if that's changed this year. A pharmaceutical company conducts a clinical trial to see if more patients who take a new drug experience headache relief than the 22% who claimed relief after taken the placebo. At a small computer peripherals company, only 60% of the hard drives produced passed all their performance tests the first time. Management recently invested a lot of resources into the production system and now conducts a test to see if it helped