The Casamigos tequila company produces two different types of tequila: silver and gold. They want to see if people rate the two types differently on average. If they find a statistically significant difference between the two, they will be able to charge a higher price for the higher rated type of tequila. To test their claim, they conduct a focus group with total 200 participants. Each of the participants were asked to rate the tequila on a scale from 1 to 10, with 1 being the worst and 10 being the best tequila they had ever had. Within the group, 65 of the participants were given the silver tequila, and 135 were given the gold tequila. Those who had the silver tequila rated it an average 9.3, while those who had the gold tequila rated it an average 9.1. The Mmpuiation variance for silver tequila is 0.2 and for gold tequila it is 0.65. Let the silver tequila be population 1 and the gold tequila be population 2 for any formulas. Find and enter the absolute value of the correct critical value needed to test your claim at the 5% significance level. Use the tables given to you in class and enter the exact value from the table. Hint, the things you will need to know include alpha, d is this a one or twotailed test, and which table to us. The Casamigos tequila company produces two different types of tequila: silver and gold. They want to see if people rate the two types differently on average. If they find a statistically significant difference between the two, they will be able to charge a higher price for the higher rated type of tequila. To test their claim, they conduct a focus group with total 200 participants. Each of the participants were asked to rate the tequila on a scale from 1 to 10, with 1 being the worst and 10 being the best tequila they had ever had. Within the group, 65 of the participants were given the silver tequila, and 135 were given the gold tequila. Those who had the silver tequila rated it an average 9.3, while those who had the gold tequila rated it an average 9.1. The Mmpulation variance for silver tequila is 0.2 and for gold tequila it is 0.65. Let the silver tequila be population 1 and the gold tequila be population 2 for any formulas. Use the information given in the problem to calculate the appropriate 95% confidence interval. Round your answers to 2 decimals. Two Hints:1. Know the difference between the variance and the standard deviation. 2. Make sure you are using the correct formula based on the information given in the problem. The key is to identify what we know (or do not know) about the population standard deviations or variances. | Lower Bound | Upper Bound The Casamigos tequila company produces two different types of tequila: silver and gold. They want to see if people rate the two types differently on average. If they find a statistically significant difference between the two, they will be able to charge a higher price for the higher rated type of tequila. To test their claim, they conduct a focus group with total 200 participants. Each of the participants were asked to rate the tequila on a scale from 1 to 10, with 1 being the worst and 10 being the best tequila they had ever had. Within the group, 65 of the participants were given the silver tequila, and 135 were given the gold tequila. Those who had the silver tequila rated it an average 9.3, while those who had the gold tequila rated it an average 9.1. The Mypulation variance for silver tequila is 0.2 and for gold tequila it is 0.65. Let the silver tequila be population 1 and the gold tequila be population 2 for any formulas. Using the confidence interval, critical value, or p-value approach (all of which you performed in the above questions), which of the following would be the correct finding from your test of any difference between the ratings using a 5% significance level? 0 We will fail to reje_ct the null hypothesis, and thus can conclude that consumers rate the silver and gold tequila differently on average. 0 We will fail to reje_ct the null hypothesis, and thus cannot conclude that consumers rate the silver and gold tequila differently on average. 0 We can reje_ct the null hypothesis, and thus can conclude that consumers rate the silver and gold tequila differently on average. 0 We can rej6_Ct the null hypothesis, and thus cannot conclude that consumers rate the silver and gold tequila differently on average