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Question 1 Alex is planning to organize party at his new house. He has two retailers to choose and wishes to determine which has the
Question 1 Alex is planning to organize party at his new house. He has two retailers to choose and wishes to determine which has the lowest prices. The prices of the following foods were compared. Assume the prices ($) of the items are normally distributed, at 0.05 level of significance, is there sufficient evidence to conclude that the mean price of foods is higher at Retailer A than at Retailer B? Test using critical value and p-value method. Based on the result, which retailer should Alex choose? Foods Store A Store B Meatball 25 23 Chicken Wing 40 32 Pizza 45 40 Potato Chip 7 7 Ice Cream 15 12 Pasta 30 42
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