An DChertisement or a populer rerket chain daims th it has consistent ler er pri

Question

An DChertisement or a populer rerket chain daims th it has consistent ler er prices than a for tno ditferent supemarket chains recorded during 4 consecutive weeks in a paricula month. othe f ll-service supermeriees. As a t o bsurvey tonducted an inde enderr market bos et proe erking tempamy, thé 8 e o e eekl total, based on t e pri 09 in $ 8pp exim teh 9 ite s, is ive Wenk Advertiser () Competitor (S) 254.21 255.99 255.LS 61.17 234.12 a) Is there d signifkant difference n the verege prices for these two different supermarket chairu? Use -0.05. Round your nswers to three decimal piats 1-2. Nul and akemative hyaotheses 3. Test statistk t- 4. Rejection region: f the test is one taled, ener NONE for the umed regian. 5. Concusion: o Mo is rejected. There is auficlent evidece to indicate that the means are dfferent HO is noe rejected. There is sufficient eveense to nd te that the neers are different. Mo is rejected. There is Insufficent evidence to indicate that the means are differet Ho is not rejected. There is irsutficient evdence to indicate that the means are dHerent. (b Whet i tre approximate -value for the test conected in part(a)? 0 p-value

Explanation / Answer

a) Correct Answer: option Option (B)
3) Test Statistic, t: -3.2222
4) t<-2.446909
t > +2.446909
5)Correct Answer: option (B)
b)Correct Answer: option (B)
c)
-36.16747 < µ1-µ2 < 2.532466
Interpretation:
Correct Answer: Option (B)

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