Is there a difference in the prices at a warehouse club such as Costco and store brands?

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Is there a difference in the prices at a warehouse club such as Costco and store brands? To investigate this, a random sample of 10 purchases was selected, and the prices were compared. (Data extracted from "Shop Smart and Save Big," Consumer Reports, May 2009, p. 17.) The prices for the products are stored in Shopping 1.
a. At the 0.05 level of significance, is there evidence of a difference between the mean price of Costco purchases and store-brand purchases?
b. What assumption is necessary about the population distribution in order to perform this test?
c. Construct a 95% confidence interval estimate of the mean difference in price between Costco and store brands. Interpret the interval.
d. Compare the results of (a) and (c). Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Basic Business Statistics Concepts And Applications

ISBN: 9780132168380

12th Edition

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

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