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A personal fitness company produces both a deluxe and a standard model of a smoothie blender for home use. Selling prices obtained from a sample

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A personal fitness company produces both a deluxe and a standard model of a smoothie blender for home use. Selling prices obtained from a sample of retail outlets follow. Model Price ($) Retail Outlet Deluxe Standard 1 39 27 2 38 29 3 45 36 4 38 30 5 40 30 6 39 35 34 29(a) The manufacturer's suggested retail prices for the two models show a $10 price differential. Use a 0.05 level of signicance and test that the mean difference between the prices of the two models is $10. State the null and alternative hypotheses. (Use \"d = mean price for the deluxe model mean price for the standard model.) o H01d = 10 Ha: [4d * 10 ' Ho: [4d 5 10 Ha: [4d > 10 ' H0: \"at > 10 Ha: \":1 S 10 ' H0: \"d = 10 Ha: \"d S 10 ' Ho: \"d 10 Ha: \"d = 10 J Calculate the value of the test statistic. (Round your answer to three decimal places.) -1.764 x Calculate the pvalue. (Round your answer to four decimal places.) p-value = 01282 X State your conclusion. Do not Reject HO' There is sufcient evidence to conclude that a $10 price differential exists. ' Reject Ho- There is insufcient evidence to conclude that a $10 price differential exists. ' Reject H0. There is sufcient evidence to conclude that a $10 price differential exists. ' Do not reject HO' There is insufcient evidence to conclude that a $10 price differential exists. (b) What is the 95% condence interval for the difference between the mean prices of the two models (in dollars)? (Round your answers to nearest cent. Use the mean price for the deluxe model the mean price for the standard model.) $ 5-56 e was 10.72 X

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