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 28 6 39 34 3 45 35 7 35 29 4 38 30 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 1 H a = d Selectgreater than 10greater than or equal to 10equal to 10less than or equal to 10less than 10not equal to 10Item 2 Calculate 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 4 Can 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.( , )

Model Price ($)

Model Price ($)

Retail Outlet

Deluxe

Standard

Retail Outlet

Deluxe

Standard

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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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.

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 1
H _a = _d Selectgreater than 10greater than or equal to 10equal to 10less than or equal to 10less than 10not equal to 10Item 2

Calculate 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 4

Can 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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