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A marketing research rm wishes to compare the prices charged by two supermarket chainsMiller's and Albert's. The research rm, using a standardized one-week shopping plan
A marketing research rm wishes to compare the prices charged by two supermarket chainsMiller's and Albert's. The research rm, using a standardized one-week shopping plan (grocery list), makes identical purchases at 10 of each chain's stores. The stores for each chain are randomly selected, and all purchases are made during a single week. It is found that the mean and the standard deviation of the shopping expenses at the 10 Miller's stores are E = $124.65 and sl= 1.03. It is also found that the mean and the standard deviation of the shopping expenses at the 10 Albert's stores are E = $123.85 and sz= 1 .22. (a) Calculate the value of the test statistic. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Test Mame _ (b) Calculate the critical value. (Round your answer to 2 decimal places.) ermcanvauue _ (c) At the 0.01 significance level, what it the conclusion? 0 Fail to reject O Reject
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