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 OutletDeluxe StandardRetail OutletDeluxe Standard13927540303423928639345357352943830a. 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 $10Develop the null and alternative hypotheses.Но -= d SelectHa = d SelectCalculate the value of the test statistic. If required enter negative values as negative numbers. (to 2 decimals).The p-value isSelectCan you conclude that the price differential is not equal to $10?Selectb. What is the 95% confidence interval for the difference between the mean prices of the two models (to 2 decimals)? Use a t-table.

Given:Number of retail prices (n) = 7Level of significance = 0.05

Answered: A manufacturer produces both a deluxe…

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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