Are store-brand grocery items actually cheaper than their name-brand counterparts? A data set constructed by Michael McKay, a business statistics student at Fairfield University, will help you answer this question. Michael randomly selected a sample of products and then collected data on the prices of the store-brand and the name-brand items sold at Groceries Plus (not its real name). For each selected grocery item in Michael's sample, the name-brand price, the store-brand price, and the difference in those prices (name-brand minus store-brand) are shown in the DataView tool that follows. Groceries Data Set Sample Variables = 3 Observations = 8 Variables Observations Store-Brand and Name-Brand Prices for a Sample of Grocery Store Items Sample data collected by Michael McKay, business stats student, Fairfield University Observations Variable Form Values Missing Name-Brand Price Quantitative Numeric 8 0 Store-Brand Price Quantitative Numeric 8 0 Difference in Price Quantitative Numeric 8 0 Type P Variable Variable Variable Correlation Correlation Suppose Michael used a t test for related samples to reject the null hypothesis that the average store-brand price is greater than or equal to the average name-brand price. Thus, he concludes the average store-brand price is less than the average name-brand price. Which of the following could he report as an indication of the size of the effect? (Note: Some of the following choices are better indications of effect size in this case than others, but select all that could function as any indication of thesizeof the effect.) The significance level Michael selected 0 The t statistic I A statement indicating the average price difference between the store-brand products and name-brand products in the sample (D) The confidence interval of HD Calculate an estimate of the mean difference expressed in standard deviations of the name-brand prices (a, often referred to as the estimated Cohen's d). The estimated Cohen's d (a) is . (Hint: Use the DataView tool to find the appropriate sample mean and standard deviation. Select a Variable tab on the bottom left-hand side of the tool, and then click the downward arrow to select the variable for which you wish to see statistics, such as the sample mean and standard deviation.) Are store-brand grocery items actually cheaper than their name-brand counterparts? A data set constructed by Michael McKay, a business statistics student at Fairfield University, will help you answer this question. Michael randomly selected a sample of products and then collected data on the prices of the store-brand and the name-brand items sold at Groceries Plus (not its real name). For each selected grocery item in Michael's sample, the name-brand price, the store-brand price, and the difference in those prices (name-brand minus store-brand) are shown in the DataView tool that follows. Groceries Data Set Sample Variables = 3 Observations = 8 Variables Observations Store-Brand and Name-Brand Prices for a Sample of Grocery Store Items Sample data collected by Michael McKay, business stats student, Fairfield University Observations Variable Form Values Missing Name-Brand Price Quantitative Numeric 8 0 Store-Brand Price Quantitative Numeric 8 0 Difference in Price Quantitative Numeric 8 0 Type P Variable Variable Variable Correlation Correlation Suppose Michael used a t test for related samples to reject the null hypothesis that the average store-brand price is greater than or equal to the average name-brand price. Thus, he concludes the average store-brand price is less than the average name-brand price. Which of the following could he report as an indication of the size of the effect? (Note: Some of the following choices are better indications of effect size in this case than others, but select all that could function as any indication of thesizeof the effect.) The significance level Michael selected 0 The t statistic I A statement indicating the average price difference between the store-brand products and name-brand products in the sample (D) The confidence interval of HD Calculate an estimate of the mean difference expressed in standard deviations of the name-brand prices (a, often referred to as the estimated Cohen's d). The estimated Cohen's d (a) is . (Hint: Use the DataView tool to find the appropriate sample mean and standard deviation. Select a Variable tab on the bottom left-hand side of the tool, and then click the downward arrow to select the variable for which you wish to see statistics, such as the sample mean and standard deviation.)