NEED ANSWER TO ALL 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, 3.8,3.6,3,4.9Assume that both populations follow a normal distribution. What can be concluded at the a = 0.10level of significance level of significance?For this study, we should use Select an answera. The null and alternative hypotheses would be:Ho: Select an answer vSelect an answer v Select an answer(please enter a decimal)Hj: Select an answer v Select an answer v Select an answer v (Please enter a decimal)b. The test statistic ? v(please show your answer to 3 decimal places.)c. The p-value =(Please show your answer to 4 decimal places.)d. The p-value is ? ae. Based on this, we should Select an answer v the null hypothesis.f. Thus, the final conclusion is that...O The results are statistically insignificant at a = 0.10, so there is insufficientevidence to conclude that the population mean revenue on days with a red "Sale"sign is not the same as the population mean revenue on days with a blue "Sale"sign.O The results are statistically significant at a = 0.10, so there is sufficient evidence toconclude that the population mean revenue on days with a red "Sale" sign is notthe same as the population mean revenue on days with a blue "Sale" sign.O The results are statistically significant at a = 0.10, so there is sufficient evidence toconclude that the mean revenue for the eight days with a red "Sale" sign is not the g. Interpret the p-value in the context of the study.O There is a 27.86% chance that the mean revenue for the 8 days with a red "Sale"sign differs by least 0.4 thousand dollars compared to the mean revenue for the 8days with a blue "Sale" sign.O If the sample mean revenue for the 8 days with a red "Sale" sign is the same as thesample mean revenue for the 8 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 27.86% chance of concluding that the mean revenue for the 8 days witha red "Sale" sign differs at least 0.4 thousand dollars compared to the meanrevenue for the 8 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 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.

Question

NEED ANSWER TO ALL 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, 3.8,3.6,3,4.9Assume that both populations follow a normal distribution. What can be concluded at the a = 0.10level of significance level of significance?For this study, we should use Select an answera. The null and alternative hypotheses would be:Ho: Select an answer vSelect an answer v Select an answer(please enter a decimal)Hj: Select an answer v Select an answer v Select an answer v (Please enter a decimal)b. The test statistic ? v(please show your answer to 3 decimal places.)c. The p-value =(Please show your answer to 4 decimal places.)d. The p-value is ? ae. Based on this, we should Select an answer v the null hypothesis.f. Thus, the final conclusion is that...O The results are statistically insignificant at a = 0.10, so there is insufficientevidence to conclude that the population mean revenue on days with a red &#34;Sale&#34;sign is not the same as the population mean revenue on days with a blue &#34;Sale&#34;sign.O The results are statistically significant at a = 0.10, so there is sufficient evidence toconclude that the population mean revenue on days with a red &#34;Sale&#34; sign is notthe same as the population mean revenue on days with a blue &#34;Sale&#34; sign.O The results are statistically significant at a = 0.10, so there is sufficient evidence toconclude that the mean revenue for the eight days with a red &#34;Sale&#34; sign is not the g. Interpret the p-value in the context of the study.O There is a 27.86% chance that the mean revenue for the 8 days with a red &#34;Sale&#34;sign differs by least 0.4 thousand dollars compared to the mean revenue for the 8days with a blue &#34;Sale&#34; sign.O If the sample mean revenue for the 8 days with a red &#34;Sale&#34; sign is the same as thesample mean revenue for the 8 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 27.86% chance of concluding that the mean revenue for the 8 days witha red &#34;Sale&#34; sign differs at least 0.4 thousand dollars compared to the meanrevenue for the 8 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 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.

Accepted Answer

From the provided data we compute the mean and sample standard deviation of red sign sale and blue…