A survey was conducted by an independent price-checking company to check an advertiser's claim that it had lower prices

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A Survey Was Conducted By An Independent Price Checking Company To Check An Advertiser S Claim That It Had Lower Prices 1 (100.47 KiB) Viewed 91 times

A survey was conducted by an independent price-checking company to check an advertiser's claim that it had lower prices than its competitors. The average weekly total, based on the prices of approximately 95 items, is given for this chain and for its competitor recorded during four consecutive weeks in a particular month. Week Advertiser ($) 254.27 1 2. Competitor ($) 256.11 255.57 255.22 261.23 240.61 231.85 234.23 3 4 in USE SALT (a) Is there a significant difference in the average prices for these two different supermarket chains? (Use a = 0.05. Use advertiser - competitor = Md.) State the null and alternative hypotheses. O Ho: Hg = 0 versus Ho: Mo<0 O HO:Hd = 0 versus Ha: M70 O Ho: Ho = 0 versus Hai Hd > 0 O Ho: Mo<0 versus Hai Hd > 0 O Ho: Mo# O versus H: Mg = 0 State the test statistic. (Round your answer to three decimal places.) t = State the rejection region. (If the test is one-tailed, enter NONE for the unused region. Round your answers to three decimal places.) t> State the conclusion. OH, is rejected. There is sufficient evidence to indicate that the means are different. OH, is not rejected. There is insufficient evidence to indicate that the means are different. OH, is not rejected. There is sufficient evidence to indicate that the means are different.
State the conclusion. OH, is rejected. There is sufficient evidence to indicate that the means are different. OH, is not rejected. There is insufficient evidence to indicate that the means are different. OH, is not rejected. There is sufficient evidence to indicate that the means are different. OH, is rejected. There is insufficient evidence to indicate that the means are different. (b) What is the approximate p-value for the test conducted in part (a)? O p-value < 0.010 O 0.010 < p-value < 0.020 O 0.020 < p-value < 0.050 O 0.050 < p-value < 0.100 O 0.100 < p-value < 0.200 O p-value > 0.200 (c) Construct a 99% confidence interval for the difference in the average prices for the two supermarket chains. (Use Madvertiser - competitor Round your answers to two decimal places.) $ to $ Interpret this interval. Since 0 falls in the confidence interval, there is insufficient evidence to indicate that the means are different. Since 0 does not fall in the confidence interval, there is sufficient evidence to indicate that the means are different. Since O does not fall in the confidence interval, there is insufficient evidence to indicate that the means are different. Since 0 falls in the confidence interval, there is sufficient evidence to indicate that the means are different.