A foresting service conducted a survey to see if tree farms that planted hardwood trees were more profitable over a 30-year period 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?1. No, because planting softwood trees have a higher profit per acre. 2. No, because there is not enough information given to make a conclusion. 3. Yes, because the chance of getting a similar result is small. 4. Yes, because planting hardwood trees have a higher profit per acre.

Question

Mathematics

Raul Knight

22 August, 01:14

A foresting service conducted a survey to see if tree farms that planted hardwood trees were more profitable over a 30-year period 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?1. No, because planting softwood trees have a higher profit per acre. 2. No, because there is not enough information given to make a conclusion. 3. Yes, because the chance of getting a similar result is small. 4. Yes, because planting hardwood trees have a higher profit per acre.

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Tripp Christian · Answer 1

The results are statistically significant because planting hardwood trees have a higher profit per acre.

Step-by-step explanation:

From the question above,

It shows that hardwood trees had a 46% higher Profit per acre than softwood trees.

Meaning that for every $100 made on softwood trees, $146 profit would be made on hardwood trees i (including both primary and secondary expenses; making the hardwood trees more profitable.

The information given is enough to reach a conclusion that planting hardwood trees have a higher profit per acre than softwood trees.