Answered: Given below is the summary statistics…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

Given below is the summary statistics for the cost of a drug purchased by patients from two different stores. Set up and implement a hypothesis test to determine whether on average there is a difference between the drug prices from the two stores. Assume p-value < 0.05, when Z-score is > 5. (assume paired test& actual mean under NULL condition is 0).


73	12.76	14.26

Please find the attached screenshot for the appropriate table

HINT: This is an open-ended task- Design your question/questions, hypothesis/hypotheses, data exploration/imputation, Test to be carried out, Conclusion.

(e) Given below is the summary statistics for the cost of a drug purchased by patients from two
different stores. Set up and implement a hypothesis test to determine whether on average
there is a difference between the drug prices from the two stores. Assume p-value < 0.05, when
Z-score is > 5. (assume paired test& actual mean under NULL condition is 0).
naiff
X diff
Sdiff
12.76
14.26
73

Expert Solution

Step 1

The hypothesis can be constructed as:

Here is the population average difference between the drug prices from the two stores.

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