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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
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.2: Representing Data
Problem 1CYU
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A personal fitness company produces both a deluxe and a standard model of a smoothie blender for home use. Selling prices obtained from a sample of retail outlets are shown below. **Excel File:** data10-27.xlsx **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 | | | | 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 $10. - **Select your answer:** b. What is the 95% confidence interval for the difference between the mean prices of the two models? - From ______ to ______
Transcribed Image Text:A personal fitness company produces both a deluxe and a standard model of a smoothie blender for home use. Selling prices obtained from a sample of retail outlets are shown below. **Excel File:** data10-27.xlsx **Model Price ($)** | 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 | | | | 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? - From ______ to ______
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