Mathematics, 28.05.2020 22:03 11232003
A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home use. Selling prices obtained from a sample of retail outlets follow. Model Price ($) Model Price ($) Retail Outlet Deluxe Standard Retail Outlet Deluxe Standard 1 39 27 5 40 30 2 39 29 6 39 35 3 46 35 7 35 29 4 38 31 The manufacturer's suggested retail prices for the two models show a $10 price differential. Use a .05 level of significance and test that the mean difference between the prices of the two models is $10. a. Calculate the value of the test statistic (to 2 decimals).
b. What is the 95% confidence interval for the difference between the mean prices of the two models (to 2 decimals)?
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A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home...
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