Mathematics, 24.03.2020 21:17 coolkitty35
Hey everyone! Could someone please help me solve the following problem? Thank you so much!!
An advertisement for a popular supermarket chain claims that it has had consistently lower prices than four other full-service supermarkets. As part of a survey conducted by an "independent market basket price-checking company," the average weekly total, based on the prices (in $) of approximately 95 items, is given for two different supermarket chains recorded during 4 consecutive weeks in a particular month.
Week Advertiser ($) Competitor ($)
1 254.31 256.04
2 240.56 255.63
3 231.94 255.12
4 234.19 261.21
(a) Is there a significant difference in the average prices for these two different supermarket chains? Find the Test Statistic, the rejection region, and the approximate p-value to support your statistical conclusion. (Use α = 0.05. Round your answers to three decimal places.)
Answers: 2
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