The selling prices (in $) for the deluxe and standard model Ryobi wood sanders a

Question

The selling prices (in $) for the deluxe and standard model Ryobi wood sanders are shown for a sample of eight retail stores. Does the data suggest the difference in average selling price of these Ryobi models is more than $10 at alpha = 0.01? (See exercise 27 on page 458 of your textbook for a similar problem.) For the hypothesis stated above (in terms of Deluxe-Standard); What is the test statistic? What is the conclusion? mu Deluxe-mu Standard What is the p-value? Fill in only one of the following statements. If the Z table is appropriate, p-value = lf the t table is appropriate,

Explanation / Answer

here test stat =5.2915

meandeluxe-meanstd>0

from ztabl e ; p value=0.0000

frm t table p value =0.0004

deluxe standard difference(d) 31 20 11 44 33 11 38 25 13 42 31 11 41 28 13 35 24 11 42 29 13 45 32 13 mean 12.000 std deviaition 1.0690 std error= std dev/(n)^(1/2) 0.3780 t stat= (d-10)/std error 5.2915 p value = 0.0004

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