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State What the Given Confidence Interval Suggests About the Two μ1μ2\mu _ { 1 } - \mu _ { 2 }

question 63

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State what the given confidence interval suggests about the two population means.
-A paint manufacturer made a modification to a paint to speed up its drying time. Independent simple random samples of 11 cans of type A (the original paint) and 9 cans of type B (the modified paint) were selected and
Applied to similar surfaces. The drying times, in hours, were recorded. The summary statistics are as follows.  State what the given confidence interval suggests about the two population means. -A paint manufacturer made a modification to a paint to speed up its drying time. Independent simple random samples of 11 cans of type A (the original paint)  and 9 cans of type B (the modified paint)  were selected and Applied to similar surfaces. The drying times, in hours, were recorded. The summary statistics are as follows.   The following 98% confidence interval was obtained for  \mu _ { 1 } - \mu _ { 2 }  , the difference between the mean drying time For paint cans of type A and the mean drying time for paint cans of type B:  \text { B: } 4.90 \mathrm { hrs } < \mu _ { 1 } - \mu _ { 2 } < 17.50 \mathrm { hrs }  What does the confidence interval suggest about the population means? A)  The confidence interval includes only positive values which suggests that the two population means might be equal. There doesn't appear to be a significant difference between the mean drying time for paint Type A and the mean drying time for paint type B. The modification does not seem to be effective in Reducing drying times. B)  The confidence interval includes 0 which suggests that the two population means might be equal. There doesn't appear to be a significant difference between the mean drying time for paint type A and the mean Drying time for paint type B. The modification does not seem to be effective in reducing drying times. C)  The confidence interval includes only positive values which suggests that the mean drying time for paint type A is smaller than the mean drying time for paint type B. The modification does not seem to be Effective in reducing drying times. D)  The confidence interval includes only positive values which suggests that the mean drying time for paint type A is greater than the mean drying time for paint type B. The modification seems to be effective in Reducing drying times. The following 98% confidence interval was obtained for μ1μ2\mu _ { 1 } - \mu _ { 2 } , the difference between the mean drying time
For paint cans of type A and the mean drying time for paint cans of type B:  B: 4.90hrs<μ1μ2<17.50hrs\text { B: } 4.90 \mathrm { hrs } < \mu _ { 1 } - \mu _ { 2 } < 17.50 \mathrm { hrs } What does the confidence interval suggest about the population means?


Definitions:

Profit and Invested Capital

The return generated from the capital invested in a business, often analyzed to assess the efficiency and profitability of the investment.

Revenue Centre Manager

An individual responsible for overseeing a business unit or division that is focused on generating revenue, without direct control over costs or investment decisions.

Gross Margin

A company's revenue minus its cost of goods sold, expressed as a percentage of revenues, indicating the efficiency of production and sales.

Transfer Price

The price at which goods and services are sold between divisions within the same company, used for internal sales and profit allocation.

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