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Supermarket Store A wants to determine whether prices at their competitor are lower than at their store. Researchers randomly selected ten items and compared the
Supermarket Store A wants to determine whether prices at their competitor are lower than at their store. Researchers randomly selected ten items and compared the prices at each store.
Item | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
---|---|---|---|---|---|---|---|---|---|---|
Store A | 2.63 | 1.19 | 3.99 | 3.79 | 2.99 | 1.49 | 4.89 | 4.25 | 2.19 | 2.99 |
Other Store | 2.48 | 1.00 | 3.09 | 3.29 | 2.99 | 1.89 | 4.39 | 4.00 | 2.99 | 2.79 |
- Compute a 95% confidence interval for the true mean difference in prices between the two stores, assuming conditions have been met. Be sure to show all of your work and interpret your interval.
- Based upon your confidence interval in question 1, is there evidence that the other store's prices are different? Explain.
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