NEED ANSWERS ASAP PLEASE 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 forvarious days when the retailer decided to put the red "Sale" sign up and days when the retailerdecided to put the blue "Sale" sign up.Red: 3.5, 3.6, 2.8,1.6, 3.6, 3, 2.2, 3.2Blue: 2.9, 3.2, 2.6, 2.8, 3.8, 3.6,3,4.9 Observed thên thereuis aipwould be a 27.86% chance that the mean revenue for the 8 days with a red "Sale"sign would differ by at least 0.4 thousand dollars from the mean revenue for the 8days with a blue "Sale" sign.O There is a 27.86% chance of a Type I error.h. Interpret the level of significance in the context of the study.O There is a 10% chance that there is a difference in the population mean revenueon days with a red "Sale" sign and on days with a blue "Sale" sign.O If the population mean revenue on days with a red "Sale" sign is the same as thepopulation mean revenue on days with a blue "Sale" sign and if another 8 dayswith a red "Sale" sign and 8 days with a blue "Sale" sign are observed then therewould be a 10% chance that we would end up falsely concluding that thepopulation mean revenue for the days with a red "Sale" sign is not the same as thepopulation mean revenue on days with a blue "Sale" signO If the population mean revenue on days with a red "Sale" sign is the same as thepopulation mean revenue on days with a blue "Sale" sign and if another 8 dayswith a red "Sale" sign and 8 days with a blue "Sale" sign are observed, then therewould be a 10% chance that we would end up falsely concluding that the samplemean revenue for these 8 days with a red "Sale" sign and 8 days with a blue "Sale"sign differ from each other.O There is a 10% chance that green is your favorite color, so why woud you evenconsider red or blue?i. Calculate the 90% confidence interval for the difference in mean revenues in red vs bluesale signs.

Name: NEED ANSWERS ASAP PLEASE A retailer wants to see if a red "Sale" sign
Uploaded: 2024-03-20T07:07:37.000Z
Channel: Bartleby
Description: NEED ANSWERS ASAP PLEASE 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 forvarious days when the retailer

Question

NEED ANSWERS ASAP PLEASE A retailer wants to see if a red &#34;Sale&#34; sign brings in the same amount of revenue than the same&#34;Sale&#34; sign in blue. The data below shows the revenue in thousands of dollars that was achieved forvarious days when the retailer decided to put the red &#34;Sale&#34; sign up and days when the retailerdecided to put the blue &#34;Sale&#34; sign up.Red: 3.5, 3.6, 2.8,1.6, 3.6, 3, 2.2, 3.2Blue: 2.9, 3.2, 2.6, 2.8, 3.8, 3.6,3,4.9 Observed thên thereuis aipwould be a 27.86% chance that the mean revenue for the 8 days with a red &#34;Sale&#34;sign would differ by at least 0.4 thousand dollars from the mean revenue for the 8days with a blue &#34;Sale&#34; sign.O There is a 27.86% chance of a Type I error.h. Interpret the level of significance in the context of the study.O There is a 10% chance that there is a difference in the population mean revenueon days with a red &#34;Sale&#34; sign and on days with a blue &#34;Sale&#34; sign.O If the population mean revenue on days with a red &#34;Sale&#34; sign is the same as thepopulation mean revenue on days with a blue &#34;Sale&#34; sign and if another 8 dayswith a red &#34;Sale&#34; sign and 8 days with a blue &#34;Sale&#34; sign are observed then therewould be a 10% chance that we would end up falsely concluding that thepopulation mean revenue for the days with a red &#34;Sale&#34; sign is not the same as thepopulation mean revenue on days with a blue &#34;Sale&#34; signO If the population mean revenue on days with a red &#34;Sale&#34; sign is the same as thepopulation mean revenue on days with a blue &#34;Sale&#34; sign and if another 8 dayswith a red &#34;Sale&#34; sign and 8 days with a blue &#34;Sale&#34; sign are observed, then therewould be a 10% chance that we would end up falsely concluding that the samplemean revenue for these 8 days with a red &#34;Sale&#34; sign and 8 days with a blue &#34;Sale&#34;sign differ from each other.O There is a 10% chance that green is your favorite color, so why woud you evenconsider red or blue?i. Calculate the 90% confidence interval for the difference in mean revenues in red vs bluesale signs.< Select an answer vS

Accepted Answer

N
Mean
StDev
SE Mean

red
8
2.938
0.719
0.254

blue
8
3.35
0.7445
0.263

Observed difference…