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
Section10.2: 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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