At the .05 significant level, the reseacher wants to test wheater people are likely to offer a diferent amount for a used smatphone whe buying from a friend than when buying from a stranger.
A research at Columbia university wanted to know if friendship affects simple sales. She divided the class into two groups and asked each of the students in group one how much they would offer to pay a friend for a fairly new smartphone. Students in other group were asked how much they would offer to pay a stranger fot the same item.
Buying from a friend ($)
275, 300, 260, 300, 255, 275, 290, 300
Buying from a strange ($)
260, 250, 175, 130, 200, 225, 240
Use two decimal places throughout your calculation
At the .05 significant level, the reseacher wants to test wheater people are likely to offer a diferent amount for a used smatphone whe buying from a friend than when buying from a stranger.
a) state the hyphotesis
b) determine the decision rule
c) compute the test statistic
d) state the decison
e) Draw a conclusion (interpret)
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