Statistics for Data Science and Business Analysis - Test for the Mean; Independent Samples (Part 2)

The video tutorial covers hypothesis testing with independent samples and unknown but equal variances. It revisits a dataset comparing apple prices in New York and LA, setting up null and alternative hypotheses. The tutorial explains using pooled variance and calculating the standard error, followed by determining the T-statistic and degrees of freedom. It interprets the results, highlighting the significance of the P-value, and concludes with a discussion on the implications of the findings and further questions for exploration.

Discuss the implications of a P value lower than 0.01 in this context.

Based on the mean values provided, what conclusion can be drawn about apple prices in New York compared to LA?