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A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home use. Selling prices obtained from a sample of...

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A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home use. Selling prices obtained from a sample of retail outlets follow. Model Price (5) Model Price ($)
Retail Outlet Deluxe Standard Retail Outlet Deluxe Standard
1 40 27 5 4O 30
2 39 28 6 39 32
3 43 35 7 36 29
4 38 31 a. The manufacturer's suggested retail prices for the two models show a $10 price differential. Use a .05 level of significance and test that the mean difference between the prices of the two models is $10. Develop the null and alternative hypotheses. Howd—
Haw— Calculate the value of the test statistic. If required enter negative values as negative numbers. (to 2 decimals). The p-value is Can you conclude that the price differential is not equal to $10?
Yes 6 b. What is the 95% confidence interval for the difference between the mean prices of the two models (to 2 decimals)? Use z—table. (1 :rl l)

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From attached excel results shown in image we have the following: Part-a Ho and Ha are... View the full answer

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