A personal fitness produces both a deluxe and a standard model of a smoothie blender for home use. Selling prices obtained from a sample of retail outlets follow. Excel File: data10-27.xlx Model Price ($) Model Price ($) Retail Deluxe Standard Retail Outlet Deluxe Standard Outlet 1 39 27 5 40 30 2 39 28 39 34 45 35 7 35 29 4 38 30 Round your answers to 2 decimal places. a. The manufacturer's suggested retail prices for the two models show a $10 price differential. Use a 0.05 level of significance and test that the mean difference between the prices of the two models is $10. - Select your answer - b. What is the 95% confidence interval for the difference between the mean prices of the two models?
A personal fitness produces both a deluxe and a standard model of a smoothie blender for home use. Selling prices obtained from a sample of retail outlets follow. Excel File: data10-27.xlx Model Price ($) Model Price ($) Retail Deluxe Standard Retail Outlet Deluxe Standard Outlet 1 39 27 5 40 30 2 39 28 39 34 45 35 7 35 29 4 38 30 Round your answers to 2 decimal places. a. The manufacturer's suggested retail prices for the two models show a $10 price differential. Use a 0.05 level of significance and test that the mean difference between the prices of the two models is $10. - Select your answer - b. What is the 95% confidence interval for the difference between the mean prices of the two models?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 8PPS
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Transcribed Image Text:A personal fitness produces both a deluxe and a standard model of a smoothie blender for home use. Selling prices obtained from a sample of retail outlets
follow.
Excel File: data10-27.xlsx
Model Price ($)
Model Price ($)
Retail
Deluxe
Standard
Retail Outlet
Deluxe
Standard
Outlet
39
27
40
30
2
39
28
39
34
3
45
35
7
35
29
4
38
30
Round your answers to 2 decimal places.
a. The manufacturer's suggested retail prices for the two models show a $10 price differential. Use a 0.05 level of significance and test that the mean difference
between the prices of the two models is $10 .
Select your answer-
b. What is the 95% confidence interval for the difference between the mean prices of the two models?
to
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