I think this question should use t-Test: paired two sample for means, but my friend think…
I think this question should use t-Test: paired two sample for
means, but my friend think…
I think this question should use t-Test: paired two sample for
means, but my friend think it should use t-test: t-test: Two-sample
assuming equal variances. So, I need someone to help me explain
which method is correct and answer the following question.
Thanks!!
A professor in the School of Business wants to investigate the
prices of new textbooks in the campus bookstore and the Internet.
The professor randomly chooses the required texts for 12 business
school courses and compares the prices in the two stores. The
results are as follows:
Book
Campus Store
Internet Price
1
$55.00
$50.95
2
47.50
45.75
3
50.50
50.95
4
38.95
38.50
5
58.70
56.25
6
49.90
45.95
7
39.95
40.25
8
41.50
39.95
9
42.25
43.00
10
44.95
42.25
11
45.95
44.00
12
56.95
55.60
At the .01 level of significance, is there any evidence of a
difference in the average price of business textbooks between the
campus store and the Internet? Use Excel and the classical
method.
Hyps: H0:
H1:
Test(s):
Decision rule:
Analysis:
Conclusions: (1)
(2)
(3)
(4)
What assumptions are necessary to perform this test?
Find the p-value in (a)? Using the p-value, Is there
any evidence of a difference in the average price of business
textbooks between the campus store and the Internet? Use Excel and
the p-value method and alpha = 1%.
Hyps: H0:
H1:
Test(s):
Analysis:
p-value:
Conclusions: (1)
(2)
(3)
(4)
