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Calculate the pvalue. (Rou nd your answer to four decimal places.) State your conclusion. O Reject Ho. There is insufcient evidence to conclude that a
Calculate the pvalue. (Rou nd your answer to four decimal places.) State your conclusion. O Reject Ho. There is insufcient evidence to conclude that a $10 price differential exists. 0 Reject HD' There is sufficient evidence to conclude that a $10 price differential exists. (9 Do not reject H0. There is insufficient evidence to conclude that a $10 price differential exists. 0 Do not Reject H0. There is sufcient evidence to conclude that a $10 price differential exists. J (In) What is the 95% condence interval fer the difference between the mean prices of the two models (in dollars)? (Rpund your answers to nearest cent. Use the mean price for the deluxe model the mean price for the standard model.) $:to$:l You may need to use the appropriate technology to answer this question. A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home use. Selling prices obtained from a sample of retail outlets follow. Model Price ($) Retail Outlet Deluxe Standard 1 39 27 2 39 28 3 44 35 4 38 30 5 4U 3D 6 39 35 7 34 29 (a) The manufacturer's suggested retail prices forthe 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 HO: pd > 10 H3: \":1 S 10 O HO: ad %- 10 Ha: \"d: 10 O HO: d : 10 Ha: \"'15 10 H0: d : 10 Ha:ud#10 O HO: \"d s 10 Ha: yd) 10 V Calculate the value of the test statistic. (Round your answerto three decimal places.) :I
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