A business aba **Title: Analysis of Price Changes in Supermarket Goods**A business analyst aims to determine whether the prices of goods at a supermarket have changed significantly since a new owner took over. The table below presents the prices of ten items before and after the change in ownership. The analysis will help assess the price variations.| Item | Before Price | After Price | Difference (After – Before) ||------|--------------|-------------|-----------------------------|| 1 | $2.50 | $2.80 | $0.30 || 2 | $3.45 | $3.14 | -$0.31 || 3 | $6.75 | $7.01 | $0.26 || 4 | $3.50 | $3.54 | $0.04 || 5 | $2.89 | $2.95 | $0.06 || 6 | $3.36 | $3.70 | $0.14 || 7 | $7.12 | $7.03 | -$0.09 || 8 | $8.90 | $8.88 | -$0.02 || 9 | $5.24 | $5.20 | -$0.04 || 10 | $4.60 | $4.67 | $0.07 |**Summary:**The table illustrates the price differences for each item, calculated by subtracting the "Before Price" from the "After Price." Positive values indicate an increase in price, while negative values indicate a decrease.**Conclusion:**Based on the data in the table and using a significance level of 0.05, the correct $ P $-value and conclusion regarding whether there is a statistically significant change in prices should be determined through appropriate statistical analysis. ### Table DataThe table presents price data comparisons:| # | Price 1 | Price 2 | Difference ||----|---------|---------|------------|| 5 | $2.89 | $2.95 | $0.06 || 6 | $3.56 | $3.70 | $0.14 || 7 | $7.12 | $7.03 | −$0.09 || 8 | $8.90 | $8.88 | −$0.02 || 9 | $5.24 | $5.20 | −$0.04 || 10 | $4.60 | $4.67 | $0.07 |### Statistical AnalysisThe question provided is:"Based on the data in the table and using a significance level of 0.05, what is the correct $ P $-value and conclusion?"### Options for Conclusion:1. With a $ t $ statistic of 1.4789 and $ P $-value of 0.173292, reject the null hypothesis that prices have not changed.2. With a $ t $ statistic of 1.4789 and $ P $-value of 0.173292, fail to reject the null hypothesis that prices have not changed.3. With a $ t $ statistic of 0.7394 and $ P $-value of 0.478505, reject the null hypothesis that prices have not changed.4. With a $ t $ statistic of 0.7394 and $ P $-value of 0.478505, fail to reject the null hypothesis that prices have not changed.### Analysis SummaryTo determine the correct conclusion, compare the $ P $-values with the significance level (0.05). If the $ P $-value is less than 0.05, reject the null hypothesis. If it is greater, fail to reject the null hypothesis. Options 2 and 4, which fail to reject the null hypothesis, align with both $ P $-values being greater than 0.05.

Solution: First we find mean and standard deviation for the difference score. n=10 sample size…

business analyst wants to determine if the prices of goods at a supermarket have changed gnificantly since the new owner of the company took over. She looks at the prices of ten ms before the new owner took over compared to after the new owner started. tem Before Price After Price Difference (After-Before)

business analyst wants to determine if the prices of goods at a supermarket have changed gnificantly since the new owner of the company took over. She looks at the prices of ten ms before the new owner took over compared to after the new owner started. tem Before Price After Price Difference (After-Before)

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: Then:

A: Pearson's Theorem: Let n be the total sample size, vj be the random variable with corresponding…

Q: a3-16a

A: a³−16a ⇒a(a²−16) ⇒a(a² −4²) ⇒a(a+4)(a−4)

Q: 4x e 3x

A: I = ∫4x e−3x dx

Q: The following data were collected on scores (out of a possible 100) for a pretest in quantitative…

A: Microsoft Excel is a well-known spreadsheet program that lets users modify, organize, and analyze…

Q: Question 7

A: 7) (a) The given parametric equations are x=t+2 and y=t2-1 and t∈-3, 3. Sketch the graph of the…

Q: Question 5

A: From the provided information, Number of trials (n) = 100 Probability of getting tails (p) = 0.5

Q: e-4x

Q: Question 1 Assume that the following relationship is known to be true for two angles A and B: sin A…

A: SinA cosB - cosA sinB = 0.981663 Express A in terms of B. We know the identity SinA cosB - cosA…

Q: 4 yd

Q: Explain briefly the six steps of hypothesis

A: Solution: 1) Must know about population distribution nature and parameters of interest . 2)Define…

Q: -8 - 12

A: Given problem is

Q: Determine the value of

A: we have to determine the value of z to correspondingprobability value is 0.0400

Q: Is the graph complete? Yes No Save Answer Q1.3 (c) Is it possible to change the answer to part (b)…

Q: A large speaker that you are planning to use, has a huge diaphragm connected to a spring, the force…

Q: Part 1,2,3

A: The point is, 6,-2 So, the point is in 4th quadrant.

Q: Briefly explain the purpose of research. ?

A: Briefly explain the purpose of research. ?

Q: 2 7t 3/2 dt

A: we will use substitution

Q: а. In(3x — 5) %3D 0

A: we have to solve for the exact value of 'x' (1) ln(3x-5)=03x-5=e03x-5=13x=6x=63x= 2

Q: Give an example of the law of persistence of small numbers.

Question

A business aba

**Title: Analysis of Price Changes in Supermarket Goods**

A business analyst aims to determine whether the prices of goods at a supermarket have changed significantly since a new owner took over. The table below presents the prices of ten items before and after the change in ownership. The analysis will help assess the price variations.

| Item | Before Price | After Price | Difference (After – Before) |
|------|--------------|-------------|-----------------------------|
| 1 | $2.50 | $2.80 | $0.30 |
| 2 | $3.45 | $3.14 | -$0.31 |
| 3 | $6.75 | $7.01 | $0.26 |
| 4 | $3.50 | $3.54 | $0.04 |
| 5 | $2.89 | $2.95 | $0.06 |
| 6 | $3.36 | $3.70 | $0.14 |
| 7 | $7.12 | $7.03 | -$0.09 |
| 8 | $8.90 | $8.88 | -$0.02 |
| 9 | $5.24 | $5.20 | -$0.04 |
| 10 | $4.60 | $4.67 | $0.07 |

**Summary:**

The table illustrates the price differences for each item, calculated by subtracting the "Before Price" from the "After Price." Positive values indicate an increase in price, while negative values indicate a decrease.

**Conclusion:**

Based on the data in the table and using a significance level of 0.05, the correct $ P $-value and conclusion regarding whether there is a statistically significant change in prices should be determined through appropriate statistical analysis.

### Table Data

The table presents price data comparisons:

| # | Price 1 | Price 2 | Difference |
|----|---------|---------|------------|
| 5 | $2.89 | $2.95 | $0.06 |
| 6 | $3.56 | $3.70 | $0.14 |
| 7 | $7.12 | $7.03 | −$0.09 |
| 8 | $8.90 | $8.88 | −$0.02 |
| 9 | $5.24 | $5.20 | −$0.04 |
| 10 | $4.60 | $4.67 | $0.07 |

### Statistical Analysis

The question provided is:

"Based on the data in the table and using a significance level of 0.05, what is the correct $ P $-value and conclusion?"

### Options for Conclusion:

1. With a $ t $ statistic of 1.4789 and $ P $-value of 0.173292, reject the null hypothesis that prices have not changed.
2. With a $ t $ statistic of 1.4789 and $ P $-value of 0.173292, fail to reject the null hypothesis that prices have not changed.
3. With a $ t $ statistic of 0.7394 and $ P $-value of 0.478505, reject the null hypothesis that prices have not changed.
4. With a $ t $ statistic of 0.7394 and $ P $-value of 0.478505, fail to reject the null hypothesis that prices have not changed.

### Analysis Summary

To determine the correct conclusion, compare the $ P $-values with the significance level (0.05). If the $ P $-value is less than 0.05, reject the null hypothesis. If it is greater, fail to reject the null hypothesis. Options 2 and 4, which fail to reject the null hypothesis, align with both $ P $-values being greater than 0.05.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

can you work it out step by step
Question 11
What about Question #8?
-1-31 4
Define the process of mathematical modelling?
Give an example of a refinement in mathematical modeling with contextual explanation.
(2) Chapter 8 X 4
Part B please
Example 4
Define mathematical models.
Xi2.2 Evalaate