A university bookstore realizes that they are losing business, because more students are choosing to buy...

A university bookstore realizes that they are losing business, because more students are choosing to buy there textbooks online. The bookstore wants to run an advertising campaign that claims that new textbooks purchased at the bookstore are cheaper than purchasing a new textbook online and paying for the book and shipping.

Before running this advertising campaign, they want to test this claim to confirm that the bookstore prices really are lower. They randomly sample 10 new textbooks and look up the price to order that same book online and have it shipped to them. To results were as follows:

Textbook	1	2	3	4	5	6	7	8	9	10
Bookstore Price	108	114	115	90	118	130	119	115	75	114
Online Price	124	120	105	95	115	130	117	125	90	115
Differences =L1-L2	-16	-6	10	-5	3	0	2	-10	-15	-1

Use α = 0.10 as the significance level for this test.

Are these samples independent or dependent of each other? ________

Write out the hypotheses for this test. H₀ : H_A:

Find the test statistic and p-value for this test. Show which calculator function you are using.

Using either the p-value or the test statistic what is our decision about the H₀.

What conclusion did you come to in context to this test?

Solutions

Expert Solution

orchestra answered 1 year ago

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