6. 0/1 points | Previous Answers MIntroStat8 7.E.135. My Notes with a pel suppli

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6. 0/1 points | Previous Answers MIntroStat8 7.E.135. My Notes with a pel supplier filed a leaacindmther suppliers were examined A retailer entered into an exclusive agreement with a supplier who guaranteed to provide all products at competitive prices. The retailer eventually began to purchase supplies from other vendors who offered better prices. The original supplier filed a legal action claiming violation of the agreement. In defense, the retailer had an audit performed on a random sample of invoices. For each audited invoice, all purchases made from other suppliers were examined and the prices were compared with those offered by the original supplier. For each invoice, the percent of purchases for which the alternate supplier offered a lower price than the original supplier was recorded. Here are the data. 24 24 100 80 76 80 52 92 40 44 72 68 40 20 8 92 88 88 36 96 16 4 56 0 32 Report the average of the percents with a 99% confidence interval. (Round your answers to one decimal place.) Lower limit Upper limit

Explanation / Answer

The statistical software output for this problem is:

One sample T confidence interval:
: Mean of variable

99% confidence interval results:

Hence,

Lower limit: 35.2 %

Upper limit: 71.0 %

Variable Sample Mean Std. Err. DF L. Limit U. Limit var4 53.12 6.4104914 24 35.190243 71.049757

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