Discuss the below:
Q: A researcher is interested in comparing the response times of two different cab companies. Companies A and B are each called at 50 randomly selected times. The calls to the company A are made independently of the calls to company B. The response times for each call are recorded. The summary statistics are as follows
Company A Company B
Mean Response time 7.6 minutes 6.9 minutes
Standard Deviation 1.4 minutes 1.7 minutes
Sample size 50 50
Use a 0.02 significance level to test the claim that the mean response time for company A is the same as the mean response time for company B.
Show the steps of hypothesis testing listed below and support your decision with a p-value.
a) State the hypotheses being tested.
b)State the requirements
c) Give the computed value of the test statistic.
d) What is the p-value of the test?
e) State and explain the decision using the p-value method
f) Based upon your decision, determine what type error you might be making and explain what this means.