The selling prices (in $) for the deluxe and standard model Ryobi wood sanders a
ID: 3340276 • Letter: T
Question
The selling prices (in $) for the deluxe and standard model Ryobi wood sanders are shown for a sample of eight retail stores. Does the data suggest the difference in average selling price of these Ryobi models is more than $10 at -0.17(See exercise 27 on page 458 of your textbook for a similar problem.) Retail Store Deluxe Standard 30 37 40 32 36 18 27 27 21 34 32 or the hypothesis stated above (in terms of Deluxe-Standard Question 1 What is the test statistic? Question 2 What is the conclusion? Question 3What is the p-value? Fill in only one of the following statements. Deluxe-Standard If the Z table is appropriate p-value If the t table is appropriate p-valueExplanation / Answer
Minitab Output for 99% confidence interval
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MTB > Describe 'Selling Price'.
Descriptive Statistics: Selling Price
Variable N N* Mean SE Mean StDev Minimum Q1 Median Q3
Selling Price 11 0 30.36 2.02 6.71 18.00 27.00 32.00 36.00
Variable Maximum
Selling Price 40.00
MTB > OneZ 11 30.36;
SUBC> Sigma 6.71;
SUBC> Test 10;
SUBC> Confidence 99;
SUBC> Alternative 1.
One-Sample Z
Test of mu = 10 vs > 10
The assumed standard deviation = 6.71
99% Lower
N Mean SE Mean Bound Z P
11 30.36 2.02 25.65 10.06 0.000
MTB > OneZ 11 30.36;
SUBC> Sigma 6.71;
SUBC> Test 10;
SUBC> Confidence 83;
SUBC> Alternative 1.
Minitab Output for 83% confidence interval
One-Sample Z
Test of mu = 10 vs > 10
The assumed standard deviation = 6.71
83% Lower
N Mean SE Mean Bound Z P
11 30.36 2.02 28.43 10.06 0.000
MTB >
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