Question
A sales consultant for Herron Pharmaceuticals wished to confirm that their packet of 24 paracetamol tablets was cheaper at the retail level than their rival
A sales consultant for Herron Pharmaceuticals wished to confirm that their packet of 24 paracetamol tablets was cheaper at the retail level than their rival product. The sales consultant collected price data from two independent samples, of size19 for Herron and26 for the rival company. These yielded an average and variance for the retail price of Herron's product of373 cents and62 cents squared respectively, and375 cents and67 cents squared for the rival. Under the usual assumptions, determine an 80% confidence interval for the price difference (use Herron minus rival) stating only thelower limit of the interval in cents (round to the nearest whole number).
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