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.Develop the null and alternative hypotheses.H 0 =  d Selectgreater than 10greater than or equal to 10equal to 10less than or equal to 10less than 10not equal to 10Item 1H a =  d Selectgreater than 10greater than or equal to 10equal to 10less than or equal to 10less than 10not equal to 10Item 2Calculate the value of the test statistic. If required enter negative values as negative numbers. (to 2 decimals).The p-value is Selectless than .01between .10 and .05between .05 and .10between .10 and .20between .20 and .40greater than .40Item 4Can you conclude that the price differential is not equal to $10?SelectYesNoItem 5 What is the 95% confidence interval for the difference between the mean prices of the two models (to 2 decimals)? Use a t-table.( ,  )

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Types of Bias

Statistics is the study of data collection, organization, analysis, interpretation, and presentation. Statistical bias is a characteristic of a statistical technique or its findings in which the expected value deviates from the actual root quantitative parameter being estimated. According to the actual definition of bias, it refers to the tendency of a statistic to overestimate or underestimate a parameter.