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MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home use. Selling prices obtained
from a sample of retail outlets follow.
Model Price ($)
Model Price ($)
Retail Outlet Deluxe Standard
Retail Outlet Deluxe Standard
1
40
27
5
40
30
2
39
28
6.
39
32
3
43
35
7
36
29
4
38
31
a. The manufacturer's suggested retail prices for the two models show a $10 price differential. Use a .05 level of significance and test
that the mean difference between the prices of the two models is $10.
Develop the null and alternative hypotheses.
Ho = µ d equal to 10
Ha = u d not equal to 10
Calculate the value of the test statistic. If required enter negative values as negative numbers. Use z-table. (to 2 decimals).
-0.78
The p-value is between .20 and .40
Can you conclude that the price differential is not equal to $10?
No
b. What is the 95% confidence interval for the difference between the mean prices of the two models (to 2 decimals)?
5.86
12.14
Transcribed Image Text:A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home use. Selling prices obtained from a sample of retail outlets follow. Model Price ($) Model Price ($) Retail Outlet Deluxe Standard Retail Outlet Deluxe Standard 1 40 27 5 40 30 2 39 28 6. 39 32 3 43 35 7 36 29 4 38 31 a. The manufacturer's suggested retail prices for the two models show a $10 price differential. Use a .05 level of significance and test that the mean difference between the prices of the two models is $10. Develop the null and alternative hypotheses. Ho = µ d equal to 10 Ha = u d not equal to 10 Calculate the value of the test statistic. If required enter negative values as negative numbers. Use z-table. (to 2 decimals). -0.78 The p-value is between .20 and .40 Can you conclude that the price differential is not equal to $10? No b. What is the 95% confidence interval for the difference between the mean prices of the two models (to 2 decimals)? 5.86 12.14
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