Question

The time required to start a​ business, defined as the number of days needed to complete the procedures to legally operate a​ business, in 20 developed countries and 20 emerging countries is included in the accompanying table.

Developed Countries (days)	Emerging Countries (days)
26	1
115	27
8	5
31	5
8	16
5	6
27	16
7	7
6	25
10	2
30	29
11	15
18	18
18	12
29	6
12	22
8	14
25	8
18	2
23	8

a. a. Assuming that the population variances for developed countries and emerging countries are​ equal, is there evidence of a difference in the mean time required to start a business between developed countries and emerging​ countries? (Use α=0.05.)

Let μ1 be the mean time required to start a business in developed countries and let μ2 be the mean time required to start a business in emerging countries. What are the null and alternative​ hypotheses?

b. What is the test​ statistic? ​(Round to two decimal places.)

c. What​ is/are the critical​ value(s)?  ​(Round to two decimal places.)

d. Determine the​ p-value in​ (a) and interpret its meaning. ​(Round to three decimal places.)

e. Construct a 95% confidence interval estimate of the difference between the population means of developed countries and emerging countries. (Round to two decimal places.)

Answer 1