Question: Marketing and Consumer Behavior Many homeowners use TIKI torches for outside decoration and to burn special oil to repel insects. Independent random samples of two types of oil were obtained, and the burn time for 3 ounces of each was recorded (in hours). The summary statistics are given in the following table.
Assume the underlying populations are normal.
a. Do you think the assumption of equal variances is reasonable? Why or why not?
b. Based on your answer to part (a), conduct the appropriate hypothesis test to determine whether there is any evidence that the mean burn time is different for these two brands. Use a = 0.01.
c. Find bounds on the p value associated with the hypothesis test in part (b).