Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Twelve homemakers were asked to estimate the retail selling price of two models of refrigerators. Their estimates of selling price are shown in table 11.
Twelve homemakers were asked to estimate the retail selling price of two models of refrigerators. Their estimates of selling price are shown in table 11.
Use these data and test at the .05 level of significance to determine whether there is a difference between the two models in terms of home-makers' perceptions of selling price. In your answer formulate the hypothesis and justify choice of the type of the test.
Table 11
Estimates of the Retail Price of Two Models of Refrigerators (in USD)
Homemaker | Model 1 | Model 2 |
1 | 850 | 1100 |
2 | 960 | 920 |
3 | 940 | 890 |
4 | 900 | 1050 |
5 | 790 | 1120 |
6 | 820 | 1000 |
7 | 900 | 1090 |
8 | 890 | 1120 |
9 | 1100 | 1200 |
10 | 700 | 890 |
11 | 810 | 900 |
12 | 920 | 900 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started