Can students save money by comparison shopping for textbooks at Amazon.com? To investigate this possibility, a random sample of 19 textbooks used during the Spring 2009 semester at Miami University was selected. The prices for these textbooks at both a local bookstore and through Amazon.com were recorded. The prices for the textbooks are stored in “BookPrices” data in Chapter 10_HW_Data.xls. At the 0.01 level of significance, is there evidence of a difference between the mean price of textbooks at the local bookstore and Amazon.com? What assumption is necessary about the population distribution in order to perform this test? Textbook NameBookstore AmazonThe Business Writer's Handbook44.0034.16Tennis30.0028.13Environmental Geology139.70 104.00Statistical Methods for Forecasting105.0090.41Art and Creative Development for Young Children99.7095.35Common Wealth27.9511.56Genetics160.00116.34Collin French Concise Dictionary15.0010.27Special Education122.0090.30Paper FishProject Management15.9515.95Foundation Actionscript40.00 27.04167.00126.89On Being Different53.0041.41Intro to Management Science185.35166.79Chinese Film in Focus31.9523.00Reading Greek: Grammar and Exercises35.0031.49Government in America: Brief Study Edition92.4074.30Investments189.35164.50New Approach to Ear Training93.3589.50

Part A.In this case, we have a sample of 19 textbooks, and for each textbook, we have recorded its…

Answered: Textbook Name Bookstore Amazon The…

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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Can students save money by comparison shopping for textbooks at Amazon.com? To investigate this possibility, a random sample of 19 textbooks used during the Spring 2009 semester at Miami University was selected. The prices for these textbooks at both a local bookstore and through Amazon.com were recorded. The prices for the textbooks are stored in “BookPrices” data in Chapter 10_HW_Data.xls.

At the 0.01 level of significance, is there evidence of a difference between the mean price of textbooks at the local bookstore and Amazon.com?

What assumption is necessary about the population distribution in order to perform this test?

Textbook Name
Bookstore Amazon
The Business Writer's Handbook
44.00
34.16
Tennis
30.00
28.13
Environmental Geology
139.70 104.00
Statistical Methods for Forecasting
105.00
90.41
Art and Creative Development for Young Children
99.70
95.35
Common Wealth
27.95
11.56
Genetics
160.00
116.34
Collin French Concise Dictionary
15.00
10.27
Special Education
122.00
90.30
Paper Fish
Project Management
15.95
15.95
Foundation Actionscript
40.00 27.04
167.00
126.89
On Being Different
53.00
41.41
Intro to Management Science
185.35
166.79
Chinese Film in Focus
31.95
23.00
Reading Greek: Grammar and Exercises
35.00
31.49
Government in America: Brief Study Edition
92.40
74.30
Investments
189.35
164.50
New Approach to Ear Training
93.35
89.50

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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