State What the Given Confidence Interval Suggests About the Two

question 32

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 0.04 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 different from the mean for the
placebo population? Explain. $$\begin{array} { | | l | l | l | l | } \hline \hline & \text { t-Test: Two Sample for Means } & & \\\hline 1 & & \text { Variable 1 } & \text { Variable 2 } \\\hline 2 & \text { Mean } & 171.6392 & 168.7718 \\\hline 3 & \text { Known Variance } & 47.51672 & 41.08293 \\\hline 4 & \text { Observations } & 50 & 50 \\\hline 5 & \text { Hypothesized Mean Difference } & 0 & \\\hline 6 & t & 2.154057 & \\\hline 7 & \text { P(T>=t) one-tail } & 0.0158 & \\\hline 8 & \text { TCritical one-tail } & 1.644853 & \\\hline 9 & \text { P(T } { } ^ { 3 } = \text { t) two-tail } & 0.0316 & \\\hline 10 & \text { t Critical two-tail } & 1.959961 & \\\hline\end{array}$$

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Definitions:

Foreign Supplier

A business based in another country that provides goods or services to companies or consumers in a different nation.

Currencies

Different systems of money in use, recognized by various countries or regions for the exchange of goods, services, or debt.

LIFO Reserve

A LIFO reserve is an accounting metric that companies use to account for the difference in cost of goods sold (COGS) calculated using the Last-In, First-Out (LIFO) method and another inventory accounting method, often the First-In, First-Out (FIFO) method.

FIFO

A stock control method where the oldest inventory items are sold first, ensuring that the cost of inventory matches the actual flow of goods.