6. A foresting service conducted a survey to see if tree farms that planted hardwood trees were more profitable over a 30-year p
eriod than tree farms that planted softwood trees. The results of this study showed that hardwood trees had a 46% higher profit per acre. Are the results statistically significant? No, because planting softwood trees have a higher profit per acre.
No, because there is not enough information given to make a conclusion.
Yes, because the chance of getting a similar result is small.
Yes, because planting hardwood trees have a higher profit per acre.
No, because there is not enough information given to make a conclusion. Providing a percentage of 46% higher profit per acre doesn't mean statistical significance as it could be data-based only. There should be a given p value to make a conclusion about statistical significance.
