(Solution) An electric utility is willing to offer incentive option to consumers if it can be shown that doing so will significantly cut energy consumption... > Snapessays.com

(Solution) An electric utility is willing to offer incentive option to consumers if it can be shown that doing so will significantly cut energy consumption...

An electric utility is willing to offer incentive option to consumers if it can be shown that doing so will significantly cut energy consumption during peak energy months. Two test groups with equivalent histories of utility usage are randomly selected to participate in a study during the month of July. One group is offered the special incentive package; the other serves as a control group. Both groups come from populations with the same variance. The following are the sample results. The sample mean is given in KWH, and sample variance in KWH2.   Incentive Group (1) Control Group (2) Sample mean 1,327 1,539 Sample variance 388,050 390,625 Sample size 45 60 The utility company will offer an incentive if it can be shown that after doing so, the mean energy consumption will decrease. Thus, the null hypothesis asserts that no improvement will occur after incentives are offered. In other words, the mean consumption for the group offered incentives (mu1) is not significantly less than the mean for the control group (mu2), which was not offered incentives. You will test the effectiveness of the incentive package at the 5% level of significance. Calculate the t statistic for this study. What is your decision? -1.72; reject H0. -1.64; reject H0. -1.72; do not reject H0. -1.64; do not reject H0. None of the above is correct

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This question was answered on: Sep 21, 2023

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