My Question: What is the Null & Alternative Hypothesis? WinCo Foods, a large dis

Question

My Question: What is the Null & Alternative Hypothesis?

WinCo Foods, a large discount grocery retailer in the Western United States, promotes itself as the lowest priced grocery retailer. In newspaper ads WinCo Foods published a price comparison for products between WinCo and several competing grocery retailers. One of the retailers compared against WinCo was Walmart, also known as a low price competitor. WinCo selected a variety of products, listed the price of the product charges at each retailer, and showed the sales receipt to prove the prices at WinCo were the lowest in the area. A sample of the products and their price comparison at both WinCo and Walmart are shown on the left. Do the prices listed indicate that, on average, prices at WinCo are lower than prices at Walmart? Use 5% significance level.

Explanation / Answer

The hypothesis as asked in the question is

H0 : On average , the prices at WinCo are not lower than prices at walmart

H1 : On average , the prices at WinCo are lower than prices at walmart

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