State What the Given Confidence Interval Suggests About the Two

question 174

Essay

State what the given confidence interval suggests about the two population means.
-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 were recorded and the summary statistics were as follows: $$\begin{array} { l c c } & \text { Company A } & \text { Company B } \\\hline \text { Mean response time } & 7.6 \text { mins } & 6.9 \text { mins } \\\text { Standard deviation } & 1.4 \text { mins } & 1.7 \text { mins }\end{array}$$ Use a 0.02 significance level to test the claim that the mean response time for company A differs from the mean
response time for company B. Use the P-value method of hypothesis testing.

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Definitions:

Statement of Income

A financial statement that shows a company's revenues, expenses, and net income over a specific period, also known as an income statement.

Bonds

Fixed-income investment products representing loans made by an investor to a borrower, typically corporate or governmental, which borrows the funds for a defined period at a variable or fixed interest rate.

Common Shares

Equity securities that represent ownership in a corporation, giving holders voting rights and a share in the company's profits.

Financing Activities

Activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.