The time required to start a business, defined as the number of days needed to complete the procedures to legally operate a business, in 20 developed countries and 20 emerging countries is included in the accompanying table. Assuming that the population variances for developed countries and emerging countries are equal, is there evidence of a difference in the mean time required to start a business between developed countries and emerging countries? (Use α=0.05.) Let μ1 be the mean time required to start a business in developed countries and let μ2 be the mean time required to start a business in emerging countries. What are the null and alternative hypotheses? A. H0: μ1=μ2 H1: μ1≠μ2 B. H0: μ1≠μ2 H1: μ1=μ2 C. H0: μ1≥μ2 H1: μ1<μ2 D. H0: μ1≤μ2 H1: μ1>μ2 t-stat=_ p-value=_ What is the correct conclusion? A. Reject H0. There is insufficient evidence of a difference in mean time required to start a business. B. Do not reject H0. There is insufficient evidence of a difference in mean time required to start a business. C. Do not reject H0. There is sufficient evidence of a difference in mean time required to start a business. D. Reject H0. There is sufficient evidence of a difference in mean time required to start a business. Choose the correct answer below. A. The two sample sizes are equal. B. The two populations have equal standard deviations. C. The hypothesis test must be a two-tail test so the results can be validly compared to a 95% confidence interval. D. The two populations are normally distributed. Construct a 95%confidence interval estimate of the difference between the population means of developed countries and emerging countries. ≤μ1−μ2≤ (Type integers or decimals rounded to two decimal places as needed.)

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter10: Sequences, Series, And Probability

Section10.8: Probability

Problem 32E

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The time required to start a business, defined as the number of days needed to complete the procedures to legally operate a business, in 20 developed countries and 20 emerging countries is included in the accompanying table.

Assuming that the population variances for developed countries and emerging countries are equal, is there evidence of a difference in the mean time required to start a business between developed countries and emerging countries? (Use α=0.05.)

Let

μ1

be the mean time required to start a business in developed countries and let

μ2

be the mean time required to start a business in emerging countries. What are the null and alternative hypotheses?

A. H0: μ1=μ2

H1: μ1≠μ2

B. H0: μ1≠μ2

H1: μ1=μ2

C. H0: μ1≥μ2

H1: μ1<μ2

D. H0: μ1≤μ2

H1: μ1>μ2

t-stat=___

p-value=___

What is the correct conclusion?

A. Reject H0. There is insufficient evidence of a difference in mean time required to start a business.

B. Do not reject H0. There is insufficient evidence of a difference in mean time required to start a business.

C. Do not reject H0. There is sufficient evidence of a difference in mean time required to start a business.

D. Reject H0. There is sufficient evidence of a difference in mean time required to start a business.

Choose the correct answer below.

A. The two sample sizes are equal.

B. The two populations have equal standard deviations.

C. The hypothesis test must be a two-tail test so the results can be validly compared to a 95% confidence interval.

D. The two populations are normally distributed.

Construct a 95%confidence interval estimate of the difference between the population means of developed countries and emerging countries.

≤μ1−μ2≤

(Type integers or decimals rounded to two decimal places as needed.)

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eveloped Countries (days)
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4
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12
7
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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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