A marketing research firm wishes to compare the prices charged by two supermarket chains-Miller's and Albert's. The research firm, using a standardized one-week shopping plan (grocery list, makes identical purchases at 10 of each chain's stores. The stores for each chain are randomly selected, and all purchases are made during a single week. It is found that the mean and the standard deviation of the shopping expenses at the 10 Miller's stores are = $124.65 and a 1.08. It is also found that the mean and the standard deviation of the shopping expenses at the 10 Albert's stores are = $123.85 and ag 1.22. (a) Calculate the value of the test statistic. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Test statistic (b) Calculate the critical value. (Round your answer to 2 decimal places.) Critical value )At the 0.01 significance level, what it the conclusion? O Fail to reject Reject
A marketing research firm wishes to compare the prices charged by two supermarket chains-Miller's and Albert's. The research firm, using a standardized one-week shopping plan (grocery list, makes identical purchases at 10 of each chain's stores. The stores for each chain are randomly selected, and all purchases are made during a single week. It is found that the mean and the standard deviation of the shopping expenses at the 10 Miller's stores are = $124.65 and a 1.08. It is also found that the mean and the standard deviation of the shopping expenses at the 10 Albert's stores are = $123.85 and ag 1.22. (a) Calculate the value of the test statistic. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Test statistic (b) Calculate the critical value. (Round your answer to 2 decimal places.) Critical value )At the 0.01 significance level, what it the conclusion? O Fail to reject Reject
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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
Transcribed Image Text:A marketing research firm wishes to compare the prices charged by two supermarket chains-Miller's and Albert's. The research firm,
using a standardized one-week shopping plan (grocery list), makes identical purchases at 10 of each chain's stores. The stores for
each chain are randomly selected, and all purchases are made during a single week. It is found that the mean and the standard
deviation of the shopping expenses at the 10 Miller's stores are = $124.65 and -1.08. It is also found that the mean and the
standard deviation of the shopping expenses at the 10 Albert's stores are = $123.85 and - 1.22.
(a) Calculate the value of the test statistic. (Do not round Intermediate calculations. Round your answer to 2 decimal places.)
Test statistic
(b) Calculate the critical value. (Round your answer to 2 decimal places.)
Critical value
(c) At the 0.01 significance level, what it the conclusion?
O Fail to reject
O Reject
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