Answered: We are interested in comparing the…

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter2: Functions And Graphs

Section2.3: Linear Functions And Slope

Problem 106E

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Question

We are interested in comparing the average supermarket prices of two leading colas in the Tampa area. Our sample was taken by randomly going to each of eight supermarkets and recording the price of a six-pack of cola of each brand. The data are shown in the following table. Find a 98% confidence interval for the difference in mean price of brand 1 and brand 2. Assume that the paired data came from a population that is normally distributed.

Transcribed Image Text:Supemarket| 1 Brand 1 Brand 2 Difference $2.25 $2.30 $-0.05 2 2.47 2.45 0.02 3 2.38 2.44 -0.06 4. 2.27 2.29 -0.02 5 2.15 2.25 -0.10 2.25 2.25 0.00 7 2.36 2.42 -0.06 8 2.37 2.40 -0.03 x1 = 2.3125 x2 = 2.3500 | d=-0.0375 $1 = 0.1007 52 = 0.0859 Sd = 0.0381 %3D

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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