Suppose you want to investigate whether the prices of shrimp change during the holiday months. You therefore go around to 14 fish shops before the holiday and check the prices of one kilo of shrimp. In the middle of the holiday, you walk around to the same 24 fish shops and check the prices again. The results of your research can be found in the table below. Carry out a hypothesis test, where you test whether the prices have changed between the two surveys. Use ? = 0.05. Do not forget to interpret the result of the test in words.
Suppose you want to investigate whether the prices of shrimp change during the holiday months. You therefore go around to 14 fish shops before the holiday and check the prices of one kilo of shrimp. In the middle of the holiday, you walk around to the same 24 fish shops and check the prices again. The results of your research can be found in the table below. Carry out a hypothesis test, where you test whether the prices have changed between the two surveys. Use ? = 0.05. Do not forget to interpret the result of the test in words.
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter14: Counting And Probability
Section14.4: Expected Value
Problem 17E
Related questions
Topic Video
Question
| business | prise before holidays | prise during holidays |
| 1 | 199 | 219 |
| 2 | 189 | 199 |
| 3 | 219 | 189 |
| 4 | 199 | 199 |
| 5 | 199 | 199 |
| 6 | 189 | 199 |
| 7 | 229 | 199 |
| 8 | 249 | 259 |
| 9 | 249 | 249 |
| 10 | 199 | 219 |
| 11 | 189 | 199 |
| 12 | 239 | 219 |
| 13 | 239 | 259 |
| 14 | 199 | 199 |
Suppose you want to investigate whether the prices of shrimp change during the holiday months. You therefore go around to 14 fish shops before the holiday and check the prices of one kilo of shrimp. In the middle of the holiday, you walk around to the same 24 fish shops and check the prices again. The results of your research can be found in the table below.
Carry out a hypothesis test, where you test whether the prices have changed between the two surveys. Use ? = 0.05. Do not forget to interpret the result of the test in words.
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