Twelve homemakers were asked to estimate the retail selling price of two models of refrigerators. Suppose their estimates of selling price are shown in the following table.Model 2 ($)Homemaker Model 1 ($)123456789101112860960950890Find the value of the test statistic.T* =7908209009001,0907108209101,1108709001,0401,1301,0001,0601,1401,190870880900Use these data and test at the 0.05 level of significance to determine whether there is a difference between the two models in terms of homemakers' perceptions of selling price.State the null and alternative hypotheses.O Ho: Median price for model 1 - Median price for model 2 < 0H₂: Median price for model 1 - Median price for model 2 = 0ⒸH: Median price for model 1 - Median price for model 2 = 0H₂: Median price for model 1 - Median price for model 2 + 0O Ho: Median price for model 1 - Median price for model 2 + 0H₂: Median price for model 1 - Median price for model 2 = 0O Ho: Median price for model 1 - Median price for model 22 0H₂: Median price for model 1 - Median price for model 2 < 0O Ho: Median price for model 1 - Median price for model 2 ≤ 0H₂: Median price for model 1 - Median price for model 2 > 0 Find the p-value. (Round your answer to four decimal places.)p-value =State your conclusion.O Reject Ho. There is not sufficient evidence to conclude that there is a significant difference between the two models in terms of homemakers' perceptions of selling price.● Reject Ho. There is sufficient evidence to conclude that there is a significant difference between the two models i terms of homemakers' perceptions of selling price.O Do not reject Ho. There is sufficient evidence to conclude that there is a significant difference between the two models in terms of homemakers' perceptions of selling price.O Do not reject Ho. There is not sufficient evidence to conclude that there is a significant difference between the two models in terms of homemakers' perceptions of selling price.

The null and alternative hypotheses are: H0: The median selling price of Model 1 is equal to the…

Answered: Twelve homemakers were asked to…

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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