tores decided to raise the price of a certain brand of toaster in 20 andomly selected stores (Sample A) and to lower the price in 10 andomly selected stores (Sample B). Monthly revenue (number sales x ales price) from these toasters was recorded for each of the 30 stores. Results from the two samples are as follows: No. of stores Mean Std. Dev. Sample A Sample B $842 $817 $217 $202 20 10 a) If you considered these to be independent samples, what would be the pooled estimate of the standard deviation for revenue? (q the two means. Calculate a 95% confidence interval for the difference between

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section: Chapter Questions
Problem 8CR
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Question
To investigate the effect of price on toaster sales, a chain of department
stores decided to raise the price of a certain brand of toaster in 20
randomly selected stores (Sample A) and to lower the price in 10
randomly selected stores (Sample B). Monthly revenue (number sales x
sales price) from these toasters was recorded for each of the 30 stores.
Results from the two samples are as follows:
No. of stores
Мean
Std. Dev.
Sample A
Sample B
$842
$817
$217
$202
20
10
If you considered these to be independent samples, what would
be the pooled estimate of the standard deviation for revenue?
Calculate a 95% confidence interval for the difference between
(а)
(b)
the two means.
Transcribed Image Text:To investigate the effect of price on toaster sales, a chain of department stores decided to raise the price of a certain brand of toaster in 20 randomly selected stores (Sample A) and to lower the price in 10 randomly selected stores (Sample B). Monthly revenue (number sales x sales price) from these toasters was recorded for each of the 30 stores. Results from the two samples are as follows: No. of stores Мean Std. Dev. Sample A Sample B $842 $817 $217 $202 20 10 If you considered these to be independent samples, what would be the pooled estimate of the standard deviation for revenue? Calculate a 95% confidence interval for the difference between (а) (b) the two means.
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