12 points. An economic sociologist is interested in studying how long in months it takes the average IT (information technology) firm to go from IPO (initial public offering) to turning a profit since the bursting of the technology bubble. Between 1990 and 1999, it was believed that it took IT firms 29.1 months to turn a profit, but there was no reliable data on a standard deviation. The sociologist draws a sample of firms that went public between 2000 and 2009 and found the following data (in months) regarding time between IPO and first turning a profit: 43; 28; 22; 34; 57; 40; 30; 33; 36; 54; 10; 20; 73; 24; 36; 20; 52. Using α = .05, is it reasonable to conclude that his data will support the notion that it takes longer for IT firms to turn a profit in the first decade of the 21st century than it did in the previous decade?
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