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Retail Outlet Deluxe Standard 1 39 27 2 38 29 3 45 35 38 30 5 40 30 6 39 35 34 29 (a) The
Retail Outlet Deluxe Standard 1 39 27 2 38 29 3 45 35 38 30 5 40 30 6 39 35 34 29 (a) The manufacturer's suggested retail prices for the two models show a $10 price differential. Use a 0.05 level of significance and test that the mean difference between the prices of the two models is $10. State the null and alternative hypotheses. (Use uj = mean price for the deluxe model - mean price for the standard model.) O Ho: Me = 10 Ha: H > 10 OH: H = 10 Ha: H = 10 OH: H > 10 Ha: H S 10 O Ho: My = 10 Ha: Hy = 10 O Ho: H = 10 Ha: H- S 10 Calculate the value of the test statistic. (Round your answer to three decimal places.) Calculate the p-value. (Round your answer to four decimal places.) p-value = State your conclusion. O Reject Ho. There is insufficient evidence to conclude that a $10 price differential exists. O Do not Reject Ho. There is sufficient evidence to conclude that a $10 price differential exists. O Reject Ho. There is sufficient evidence to conclude that a $10 price differential exists. O Do not reject Ho. There is insufficient evidence to conclude that a $10 price differential exists. (b) What is the 95% confidence interval for the difference between the mean prices of the two models (in dollars)? (Round your answers to nearest cent. Use the mean price for the deluxe model - the mean price for the standard model.) $ to $
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