Which online stationery store has the best prices? An independent agency recently was asked to investigate this question. The agency randomly selected n=144 items common to each of two online stationery suppliers (labelled A and B for confidentiality) and recorded the prices charged by each. The summary results are provided below, where d¯

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

Which online stationery store has the best prices? An independent agency recently was asked to investigate this question.

The agency randomly selected n=144 items common to each of two online stationery suppliers (labelled A and B for confidentiality) and recorded the prices charged by each. The summary results are provided below, where d¯ is the sample mean of the difference in prices and sd is the sample standard deviation of the difference in prices:

x¯A=2.59 x¯B=2.09 d¯=0.50
sA=0.22 sB=0.25 sd=0.10

 

Assuming the data represent a matched pairs design, calculate the confidence interval for comparing mean prices using a 95% confidence level.  Select the correct answer from the list below:

Hint: Inferences about a paired difference in means are covered in Section 6.5.

Select one:
a.0.50 ± 0.01647
b.0.50 ± 0.01888
c.0.50 ± 0.19767
d.0.50 ± 0.01633
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman