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A fast food company is considering a new lunch item. The company will choose the item based on test market results. The item should show

A fast food company is considering a new lunch item. The company will choose the item based on test market results. The item should show a higher weekly demand than one of the regular items on the menu. The analysis needs to show a difference at a 0.01 level of significance to be selected. The output below shows the analysis based on the sample data (weekly sales were recorded in 1000's in the data file)

(PLEASE REMEMBER: this is a practice exam and I have created these to be "automatically graded" so you get a feedback. In the ACTUAL EXAM all fill-in-the-blanks and short answer questions will be manually graded, so you don't need to worryif youare entering the right words,numberof decimals, etc.)

New Item Regular Item
Mean 17.50666667 16.19444444
Variance 4.037117117 20.86838006
Observations 75 108
Hypothesized Mean Difference 0 No data
df 157 No data
t Stat 2.640045854 No data
P(Tt) one-tail 0.004563106 No data
t Critical one-tail 2.350333732 No data
P(Tt) two-tail 0.009126212 No data
t Critical two-tail 2.607506474 No data

Fill in the table below with the correct answers:

Is this a one-tail or two-tail test?
Does the data support the claim?
What is the lower bound for a 98% confidence interval?

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