Use the data in BUSI1013 Bank Datasetxlsx Unit 1 Question 2 to answer this

Use the data in busi1013 bank datasetxlsx unit 1

This preview shows page 12 - 15 out of 16 pages.

2. Use the data in BUSI1013 Bank Dataset.xlsx (Unit 1 Question 2) to answer this question. (4 points for each part; 8 points totala. Perform a statistical test to see whether the average loans of customers before the change at the Brock and Chase branch are different. )
Image of page 12
BUSI 1013: S TATISTICS FOR B USINESS 13 b. Construct a 95% confidence interval for the difference of average loans of customers before the change at the Brock and Chase branch. 3. To compare prices of two grocery stores in Toronto, a random sample of items that are sold in both stores were selected and their price noted in the first weekend of July 2018: (12 Points) ItemStore AStore BDifference (Store A - Store B)1 1.65 1.98 -0.33 2 8.70 8.49 0.21 3 0.75 0.89 -0.14 4 1.05 0.99 0.06 5 11.30 11.99 -0.69 6 7.70 7.99 -0.29 7 6.55 6.99 -0.44 8 3.70 3.59 0.11 9 8.60 8.99 -0.39 10 3.90 4.29 -0.39 a. What are the null and alternative hypothesis if we want to confirm that on average, prices at Store 1 is different from the prices at Store 2, that is, the mean difference is different from 0? b. What are the sample mean difference in prices and the sample standard deviation?
Image of page 13
BUSI 1013: S TATISTICS FOR B USINESS 14 c. Compute the test statistic t used to test the hypothesis. d. Compute the degree of freedom for the test statistic t. e. Can we conclude that on average, prices at Store 1 are different from the prices at Store 2? Use the critical-value approach and α= 0.05 to conduct the hypothesis test. f. Use the above data to construct a 95% confidence interval for the difference in prices between the two stores.
Image of page 14
Image of page 15

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture