Preliminary Data Analyses Indicate That You Can Reasonably Use Nonpooled

question 73

Essay

Preliminary data analyses indicate that you can reasonably use nonpooled t-procedures on the given data. Apply anonpooled t-test to perform the required hypothesis test, using either the critical-value approach or the P-value approachas indicated.
-A researcher was interested in comparing the response times of two different cab companies. Companies A and B were each called at 50 randomly selected times. The calls to company A were made independently of the calls to company B. The response times for each call were recorded. The summary statistics were as follows: $$\begin{array} { l l l } & \text { Company A } & \text { Company B } \\ \hline \text { Mean response time } & 7.6 \text { minutes } & 6.9 \text { minutes } \\ \text { Standard deviation } & 1.4 \text { minutes } & 1.7 \text { minutes } \end{array}$$ At the 0.02 level of significance, do the data provide sufficient evidence to conclude that the mean response time for company A differs from the mean response time for company B? Use the P-value approach.

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Definitions:

Risk

The possibility of suffering harm, loss, or a negative outcome as a result of internal or external vulnerabilities, often calculated in terms of likelihood and impact.

Divestiture

The process of selling off a business unit or division, or disposing of an asset, as part of a strategic business decision.

Exchange Rates

The price of one currency in terms of another for conversion purposes.

Global Companies

Enterprises that operate in multiple countries around the world, offering products or services to a global customer base.