State What the Given Confidence Interval Suggests About the Two

question 77

Essay

State what the given confidence interval suggests about the two population means.
-When testing for a difference between the means of a treatment group and a placebo group, the computer
display below is obtained. Using a 0.01 significance level, is there sufficient evidence to support the claim that
the treatment group (variable 1) comes from a population with a mean that is greater than the mean for the
placebo population? Explain. $$\begin{array} { | l | l | l | l | } \hline & \text { t-Test: Two Sample for Means } & & \\\hline 1 & & \text { Variable 1 } & \text { Variable 2 } \\\hline 2 & \text { Mean } & 171.6392 & 168.7718 \\\hline 3 & \text { Known Variance } & 47.51672 & 41.08293 \\\hline 4 & \text { Observations } & 50 & 50 \\\hline 5 & \text { Hypothesized Mean Difference } & 0 & \\\hline 6 & \mathrm { t } & 2.154057 & \\\hline 7 & \text { P(T>=t) one-tail } & 0.0158 & \\\hline 8 & \text { T Critical one-tail } & 1.644853 & \\\hline 9 & \text { P(T>=t) two-tail } & 0.0316 & \\\hline 10 & \text { t Critical two-tail } & 1.959961 & \\\hline\end{array}$$

---

Definitions:

Wheat Farmers

Individuals or entities engaged in the cultivation and production of wheat as an agricultural product.

Government

The organization, or group of persons, that holds the authority to govern a political state, making and enforcing laws and policies.

Price Support Program

Government or organizational policies aimed at maintaining the market price of a product or commodity at a certain level to support producers.

Efficiency Loss

A reduction in economic efficiency, often resulting from market distortions such as taxes or subsidies, leading to a loss of societal welfare.