Blue Box is testing a new “half price on Tuesday” policy on DVD rentals at a sample of 10 locations.   Location New Price Old Price 1   15     11   2   11     7   3   13     10   4   13     14   5   10     9   6   12     15   7   12     13   8   11     7   9   13     12   10   12     9      Click here for the Excel Data File   (a-1) Choose the right option for H0:μd ≤ 0; H1:μd> 0. Use α = .05.   Reject if tcalc < 1.833 Reject if tcalc > 1.833   (a-2) Calculate the value of tcalc. (Round your answer to 2 decimal places.)   tcalc             (b-1) Is the decision close? (Round your answer to 4 decimal places.)   The decision is   (Click to select)   not close   close    The p-value is  .   (b-2) The new price is better than the old.   True False   (b-3) The difference is significant.   False True

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.