8. An article discussed the opening of a Wise Market in Tokyo. The following data compared the prices of some kitchen staples at the new Wise Market (group 1) and at the Star supermarket (group 2) located about 15 blocks from the Wise Market: Item Wise Star (1) 16.8 (2) 22.0 Half-gallon milk Dozen eggs Tropicana orange juice (64 oz.) Head of Boston lettuce Ground round, 1 lb. Bumble Bee tuna, 6 oz. can Granny Smith apples (1 lb.) Box DeCecco linguini Salmon steak, 1 lb. Whole chicken, per pound a. Use math symbol to formulate null hypothesis and alternative hypothesis to test whether there is evidence that the mean price is lower at Wise Market than at the Star supermarket. b. At the 0.01 level of significance, what is the value of test statistic? What is the critical value? What is the degree of freedom? Using the critical value approach, is there evidence that the mean price is lower at Wise Market than at the Star supermarket? What is your conclusion? Interpret. 15.2 18.7 11.7 15.6 16.7 15.6 17.5 18.1 20.8 19.5 14.1 17.0 21.8 19.5 13.9 16.5 24.0 20.8 c. Using a 0.01 level of significance and the p-value approach, what is the p-value? And what is your conclusion? Interpret. d. What assumption is necessary to perform the test in (b)?
8. An article discussed the opening of a Wise Market in Tokyo. The following data compared the prices of some kitchen staples at the new Wise Market (group 1) and at the Star supermarket (group 2) located about 15 blocks from the Wise Market: Item Wise Star (1) 16.8 (2) 22.0 Half-gallon milk Dozen eggs Tropicana orange juice (64 oz.) Head of Boston lettuce Ground round, 1 lb. Bumble Bee tuna, 6 oz. can Granny Smith apples (1 lb.) Box DeCecco linguini Salmon steak, 1 lb. Whole chicken, per pound a. Use math symbol to formulate null hypothesis and alternative hypothesis to test whether there is evidence that the mean price is lower at Wise Market than at the Star supermarket. b. At the 0.01 level of significance, what is the value of test statistic? What is the critical value? What is the degree of freedom? Using the critical value approach, is there evidence that the mean price is lower at Wise Market than at the Star supermarket? What is your conclusion? Interpret. 15.2 18.7 11.7 15.6 16.7 15.6 17.5 18.1 20.8 19.5 14.1 17.0 21.8 19.5 13.9 16.5 24.0 20.8 c. Using a 0.01 level of significance and the p-value approach, what is the p-value? And what is your conclusion? Interpret. d. What assumption is necessary to perform the test in (b)?
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Transcribed Image Text:8. An article discussed the opening of a Wise Market in Tokyo. The following data compared
the prices of some kitchen staples at the new Wise Market (group 1) and at the Star
supermarket (group 2) located about 15 blocks from the Wise Market:
Item
Wise
Star
(1)
16.8
(2)
22.0
Half-gallon milk
Dozen eggs
Tropicana orange juice (64 oz.)
Head of Boston lettuce
Ground round, 1 lb.
Bumble Bee tuna, 6 oz. can
Granny Smith apples (1 lb.)
Box DeCecco linguini
Salmon steak, 1 lb.
Whole chicken, per pound
a. Use math symbol to formulate null hypothesis and alternative hypothesis to test whether
there is evidence that the mean price is lower at Wise Market than at the Star
supermarket.
b. At the 0.01 level of significance, what is the value of test statistic? What is the critical
value? What is the degree of freedom? Using the critical value approach, is there
evidence that the mean price is lower at Wise Market than at the Star supermarket? What
is your conclusion? Interpret.
15.2
18.7
11.7
15.6
16.7
15.6
17.5
18.1
20.8
19.5
14.1
17.0
21.8
19.5
13.9
16.5
24.0
20.8
c. Using a 0.01 level of significance and the p-value approach, what is the p-value? And
what is your conclusion? Interpret.
d. What assumption is necessary to perform the test in (b)?
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