You want to buy a specific computer. A sales representative of the manufacturer claims that retail stores sell this computer at an average price of $1240 with a very narrow standard deviation of $26. You find eight websites, such as Newegg and Amazon, that list a price for the same computer. The prices are: 1274, 1282, 1267, 1299, 1278, 1250, 1288, 1261. Can you argue that pricing for a computer online has a different standard deviation than retail stores? Use the 10% significance level. As a potential buyer, what would be the practical conclusion from your analysis? It is shown that prices for a specific computer develops a bell-shaped curve. 1. Complete the populations, null and researcher's hypothesis Population 1: The set of all | prices v| & spentoncomputers [from awebsite v| o Hint: The first drop-down box for Population 1 is what was being collected with respect to the sample. For this problem dellars paid on the sale price on a specific computer was collected for the sample. Population 2: The set of all [pries v]"| | spent on computers [fam reta stores V] ot Hint: The first drop-down box for Population 2 is what was being collected in consideration to the claim. For this problem the claim references to what research has stated on the dollars spent on computers that were sold from retail stores. Hint: The second drop-down box for Population 2 is contrel group. Your clue for this is to look for who, what, or where the elaim, the percent that is bold, was collected from. For this problem we see that the bolded number is focusing what research shows on dollars spent on computers that were sold from retail stores. . Which test would you use to verify the requirements? | X is normally distributad v|v o Has the requirements of the test met? |Yes v | o What is the sampling distribution? | Chi-square distribution v v o . Determine the cutoff scores (critical values) for significance. | 2.1673 +| o and 14.0671 | o . Fill in the blank for the necessary statistics to test the claim. Use the Rounding Rules for Hypothesis Testing to help you round your answers. nzd' s =8| 1553 v of and 2 =% 24127 v o . Determine the standardized sample score (from the sample taken) Round your answer to four decimal places. ' | Hint: Standardizing will take all of your statistics and merge them into one number making it easier to compare to the crtical value. Use the following formula to standardize your statistics with respect to the variance. (n1)-s2 Thatis, use X2 = o2 n 1is the sample size minus 1 or the same as the degrees of freedom. s2is sample variance which is the sample standard deviation raised to the 2nd power as calculated for part 4. o' is population variance or the claim raised to the 2nd power and was used to create your hypotheses. This value is also assumed to be true from the null hypothesis. Look for the number that is in bold in the problem stated at the top. For example, if & = 27 then o = 27% = 729. Remember to round your answer for X?to four decimal places and include any trailing zeros if necessary. 6. Determine the p-value from the standardized sample score. Round your answer to four decimal places. 7. Make your decision to reject or fail to reject the null hypothesis. [fail to refect ~ w|Y o Hint: You can make your decision to reject the null hypothesis by the following options: 1) Seeing if your standardized value is located in the rejection region. This is, your standardized value is located past the critical value on tail side. 2) By comparing your p-value to the level of significance (as a decimal). If the p-value is less than the level of significance then you have a rejection. Otherwise, your answer is fail to reject the null hypothesis