Question

In a consumer research study, several Meijer and Walmart stores were surveyed at random and the average basket price was recorded for each. You wish to determine if the average basket price for Meijer is different from the average basket price for Walmart. It was found that the average basket price for 25 randomly chosen Meijer stores (group 1) was $60.345 with a standard deviation of $10.8968. Similarly, a random sample of 20 Walmart stores (group 2) had an average basket price of $67.635 with a standard deviation of $12.936. Perform a two independent samples t-test on the hypotheses Null Hypothesis: μ1 = μ2, Alternative Hypothesis: μ1 ≠ μ2. What is the test statistic and p-value of this test? You can assume that the standard deviations of the two populations are statistically similar.

Question 3 options:

1) Test Statistic: -2.052, P-Value: 1.977

2) Test Statistic: -2.052, P-Value: 0.0461

3) Test Statistic: -2.052, P-Value: 0.023

4) Test Statistic: -2.052, P-Value: 0.977

5) Test Statistic: 2.052, P-Value: 0.0461

Answer 1

2 5 206 635, S2 12.936 ML