Perform a hypothesis test to test whether there is a difference in the average price. Use a = 0.05

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Joan has just moved into a
new apartment and wants to
purchase a new couch. To
determine if there is a
difference between the
average prices of couches at
two different stores, she
collects the following data.
Perform a hypothesis test to
test whether there is a
difference in the average price.
Use a = 0.05.
Store 1
X1 = $650
%1 = $43
"1
*₁ = 42
Store 2
X2 = $680
%2 = $52
= 45
22 =
Be sure to name what type of
test you are using, and give
the null and alternative
hypotheses, the critical
value(s), the test statistic, the
p-value, and the conclusion.
Transcribed Image Text:Joan has just moved into a new apartment and wants to purchase a new couch. To determine if there is a difference between the average prices of couches at two different stores, she collects the following data. Perform a hypothesis test to test whether there is a difference in the average price. Use a = 0.05. Store 1 X1 = $650 %1 = $43 "1 *₁ = 42 Store 2 X2 = $680 %2 = $52 = 45 22 = Be sure to name what type of test you are using, and give the null and alternative hypotheses, the critical value(s), the test statistic, the p-value, and the conclusion.
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