Suppose a market analyst wants to determine the difference in the average price
7. Suppose a market analyst wants to determine the difference in the average price if a gallon of whole milk in Seattle and Atlanta. To do so, he takes a telephone survey of some randomly selected consumers in Seattle. He then takes another sample of some respondents from Atlanta. Use the following sample of prices of a gallon of milk in both the cities, solve the following questions.Sample 1 Sample 2Seattle Atlanta$2.55 $2.36 $2.43 $2.23 $2.40 $2.392.67 2.54 2.43 2.30 2.33 2.402.50 2.54 2.38 2.19 2.29 2.232.61 2.80 2.49 2.41 2.18 2.293.10 2.61 2.57(i)Test the hypothesis that H0: 222? 1 = ? against the alternative hypothesis H0: 222? 1 ? ? at 5% label of significance.(a) What is the point estimate of the difference between the two population mean differenceÂµ Seattle ? Âµ Atlanta ?(b) Test the hypothesis that : 0 H0 Âµ Seattle ? Âµ Atlanta = against : ? ? 0 Ha Âµ Seattle Âµ Atlanta . Use 5% level of significance. Show all six steps. Use Classical approach and p-value approach.8. The following information was obtained from matched samples.The daily production rates for a sample of workers before and after a training program are shown below.Worker Before After1 20 222 25 233 27 274 23 205 22 256 20 197 17 18Questions:(i) Estimate the point estimate for the difference between the means of the two populations Âµ d =Âµ A ? Âµ B .(ii) Test the null hypothesis H0: Âµ d ? 0 against Ha Âµ d : > 0 at 5% label of significance,(iii) Compute a 95% confidence interval for the difference between the means of the two populations Âµ d =Âµ A ? Âµ B .
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