10.42 Canada's Food Basics An advertisement for Food Basics claims that Food Basics has had consistently lower...
Question:
10.42 Canada's Food Basics An advertisement for Food Basics claims that Food Basics has had consistently lower prices than four other full-service supermarkets. As part of a survey conducted by an "independent market basket price-checking company," the average weekly total, based on the prices (in $) of approximately 95 items, is given for two different supermarket chains recorded during 4 consecutive weeks in a particular month.
a. Is there a significant difference in the average prices for these two different supermarket chains?
b. What is the approximate p-value for the test con- ducted in part a?
c. Construct a 99% confidence interval for the difference in the average prices for the two supermarket chains. Interpret this interval.
Step by Step Answer:
Introduction To Probability And Statistics
ISBN: 9780176509804
3rd Edition
Authors: William Mendenhall