Does the price of a product influence how much you like it? Economics researchers from Northern California wondered whether enjoyment of wine is influenced by price. They randomly assigned some wine drinkers to taste wine that was said to cost $10 per bottle (4 participants, N=4) and others to taste the same wine at a supposed price of $90 per bottle (5 participants, N=5). Everyone is actually tasting wine from thesamebottle!

Price told: $10

Ratings: 1.5 2.3 2.8 3.4

Price told: $90

Ratings: 2.9 3.5 3.5 4.9 5.2

• Identify the design (paired or independent)
• conduct the appropriate 2 sample t Test in Excel and attach work. (Set alpha to .05, 2-tailed test)

You MUST also:

• state the null and alternative hypothesis
• make a decision to retain or reject the null and include the p value
• provide a written summary about the conclusion made (does price REALLY influence ratings??)