The data set for this experiment is in the excel file “Project 2 Data”. Answer e

Question

The data set for this experiment is in the excel file “Project 2 Data”.

Answer each of the questions below using hypothesis testing. Follow the seven-step procedure for testing a hypothesis in your text book as a guide for answering the questions. Use a .05 significance level. In each case, calculate the p-value.

Is the mean textbook price for the College Bookstore different from 150?

Is the mean text book price for the Online Retailer less than 150?

Is the mean textbook price for the College Bookstore greater than that for the Online Retailer? Use a pooled t-test.

Is the mean textbook price for the College Bookstore greater than that for the Online Retailer? Use a paired difference t-test.

Turn in your findings as described below. Generally the report will be graded for clarity (how easy it is to understand you), completeness (no significant gaps in the information provided) and correctness (the values and descriptions are correct). The report will also be graded on adherence to the report standard. The report will be structured as follows

Section 1: For each question, provide

The null hypothesis

The alternate hypothesis

The test statistic chosen and test used

The critical value and decision rule

The P-value

Your findings

Section 2: Questions 3 and 4 ask for two different approaches to the same question. The results differ. Write a paragraph describing which approach is the most appropriate. You should end with a clear (yes-no) conclusion to the question.

Author Title Bookstore Online Pride Business 10/e 132.75 135.91 Carroll Business and Society 204.50 174.58 Quinn Ethics for the Information Age 81.00 65.00 Bade Foundations of Microeconomics 5/e 153.50 120.43 Case Principles of Macroeconomics 9/e 154.50 215.99 Brigham Financial Management 13/e 217.00 195.10 Griffin Organizational Behavior 9/e 199.75 163.71 George Understanding and Managing Organizational Behaviior 5/e 149.00 177.63 Grewel Marketing 2/e 135.00 95.89 Barlow Abnormal Psychology 184.25 145.49 Foner Give Me Liberty: Seagull Ed. (V2) 2/e 46.50 35.60 Federer Mathematical interest Theory 2/e 89.95 91.69 Hoyle Advanced Accounting 9/e 123.02 147.41 Haviland Talking About People 4/e 58.50 51.93 Fuller Information Systems Project Management 89.25 81.69 Pindyck Macroeconomics 7/e 189.25 130.32 Mankiw Macroeconomics 7/e 179.25 149.48 Shapiro Multinational Financial Management 9/e 210.25 145.30 Losco American Government 2010 Edition 67.75 55.16

Explanation / Answer

One-Sample T: Bookstore

Test of = 150 vs 150

Variable N Mean StDev SE Mean 95% CI T P
Bookstore 19 140.3 55.0 12.6 (113.7, 166.8) -0.77 0.451

One-Sample T: Online

Test of = 150 vs < 150

Variable N Mean StDev SE Mean 95% Upper Bound T P
Online 19 125.2 51.5 11.8 145.6 -2.10 0.025

Two-sample T for Bookstore vs Online

SE
N Mean StDev Mean
Bookstore 19 140.3 55.0 13
Online 19 125.2 51.5 12

Difference = (Bookstore) - (Online)
Estimate for difference: 15.1
95% lower bound for difference: -14.1
T-Test of difference = 0 (vs >): T-Value = 0.87 P-Value = 0.194 DF = 35

Paired T for Bookstore - Online

N Mean StDev SE Mean
Bookstore 19 140.3 55.0 12.6
Online 19 125.2 51.5 11.8
Difference 19 15.09 30.64 7.03

95% lower bound for mean difference: 2.90
T-Test of mean difference = 0 (vs > 0): T-Value = 2.15 P-Value = 0.023

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