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Paracetamol has been in general use for more than 50 years. We take paracetamol for mild pain (for example headache, fever or muscle strains). Paracetamol
Paracetamol has been in general use for more than 50 years. We take paracetamol for mild pain (for example headache, fever or muscle strains). Paracetamol M'- Tablets Paracetamol SIS-C} mg -"' - 20 caplet; - ' A consumer reporting agency wished to determine whether a "homebrand" paracetamol sells at a lower price than the "famousbrand Panadol" paracetamol of the same type. A random sample of 25 stores was selected, and the prices (at the stores) of each of the two paracetamol were recorded with the following results. The data set is stored in the EViews workfile paracetamol. wfI . Store Pair 1 Pair 2 Pair 24 Pair 25 home-brand 10.5 8.8 8.8 9.8 famousbrand 11 10.5 9.5 10 Assume that the normality requirement necessary to perform the test statistic is satised. At the 1% level of significance, is there evidence that the "homebrand" sells, on average, for a lower price than the "famousbrand Panadol"? Your answers must be solved by hand and using EViews.
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