Question

A marketing research firm wishes to compare the prices charged by two supermarket chains—Miller’s and Albert’s. The research firm, using a standardized one-week shopping plan (grocery list), makes identical purchases at 10 of each chain’s stores. The stores for each chain are randomly selected, and all purchases are made during a single week. It is found that the mean and the standard deviation of the shopping expenses at the 10 Miller’s stores are x1¯¯¯¯?=?$123.02$\overline{x_1}?=\text{?}\$123.02$  and s₁= 1.83. It is also found that the mean and the standard deviation of the shopping expenses at the 10 Albert’s stores are x2¯¯¯¯?=?$123.11$\overline{x_2}?=\text{?}\$123.11$ and s₂= 1.93.

 

(a) Calculate the value of the test statistic. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

 

 Test statistic           

 

(b) Calculate the critical value. (Round your answer to 2 decimal places.)

 

 Critical value           

 

(c) At the 0.01 significance level, what it the conclusion?

 

• Fail to reject

• Reject

Answer 1

refer::  https://www.homeworklib.com/question/1049888/a-marketing-research-firm-wishes-to-compare-the