America’s Market Basket Exercise 10.41 examined an advertisement for a popular supermarket chain that claimed it has had consistently lower prices than one of its competitors. As part of a survey conducted by an independent price-checking company, the average weekly total, based on the prices of approximately 95 items, is given for this chain and for its competitor recorded during four consecutive weeks in a particular month.
a. What type of design has been used in this experiment?
b. Conduct an analysis of variance for the data.
c. Is there sufficient evidence to indicate that there is a difference in the average weekly totals for the two supermarkets? Use α = .05.
Reference:
America’s Market Basket An advertisement for a popular supermarket chain claims that it has had consistently lower prices than one of its competitors. As part of a survey conducted by an independent price-checking company, the average weekly total, based on the prices of approximately 95 items, is given for this chain and for its competitor recorded during four consecutive weeks in a particular month.
a. Is there a significant difference in the average prices for these two different supermarket chains?
b. What is the approximate p-value for the test conducted in part a?
c. Construct a 99% confidence interval for the difference in the average prices for the two supermarket chains. Interpret this interval.
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