Question
In: Statistics and Probability
Please show your work 9.2.3 All Fresh Seafood is a wholesale fish company based on the...
Please show your work
9.2.3
All Fresh Seafood is a wholesale fish company based on the east coast of the U.S. Catalina Offshore Products is a wholesale fish company based on the west coast of the U.S. Table #9.2.5 contains prices from both companies for specific fish types ("Seafood online," 2013) ("Buy sushi grade," 2013). Do the data provide enough evidence to show that a west coast fish wholesaler is more expensive than an east coast wholesaler? Test at the 5% level.
Table #9.2.5: Wholesale Prices of Fish in Dollars
|
Fish |
All Fresh Seafood Prices |
Catalina Offshore Products Prices |
|
Cod |
19.99 |
17.99 |
|
Tilapi |
6.00 |
13.99 |
|
Farmed Salmon |
19.99 |
22.99 |
|
Organic Salmon |
24.99 |
24.99 |
|
Grouper Fillet |
29.99 |
19.99 |
|
Tuna |
28.99 |
31.99 |
|
Swordfish |
23.99 |
23.99 |
|
Sea Bass |
32.99 |
23.99 |
|
Striped Bass |
29.99 |
14.99 |
Solutions
Expert Solution
Ho : µd ≤ 0
Ha : µd > 0
| SAMPLE 1 | SAMPLE 2 | difference , Di =sample1-sample2 | (Di - Dbar)² |
| 19.99 | 17.99 | 2 | 0.199 |
| 6 | 13.99 | -7.99 | 108.901 |
| 19.99 | 22.99 | -3 | 29.654 |
| 24.99 | 24.99 | 0 | 5.981 |
| 29.99 | 19.99 | 10 | 57.070 |
| 28.99 | 31.99 | -3 | 29.654 |
| 23.99 | 23.99 | 0 | 5.981 |
| 32.99 | 23.99 | 9 | 42.961 |
| 29.99 | 14.99 | 15 | 157.614 |
mean of difference , D̅ =ΣDi / n =
2.4456
std dev of difference , Sd = √ [ (Di-Dbar)²/(n-1) =
7.3994
std error , SE = Sd / √n = 7.3994 /
√ 9 = 2.4665
t-statistic = (D̅ - µd)/SE = ( 2.445555556
- 0 ) / 2.4665
= 0.992
Degree of freedom, DF= n - 1 =
8
t-critical value , t* =
1.8595 [excel function: =t.inv(α,df) ]
p-value = 0.1752 [excel
function: =t.dist.rt(t-stat,df) ]
Decision: p-value>α , Do not reject null
hypothesis
orchestra answered 1 year agoRelated Solutions
All Fresh Seafood is a wholesale fish company based on the east coast of the U.S....
All Fresh Seafood is a wholesale fish company based on the east
coast of the U.S. Catalina Offshore Products is a wholesale fish
company based on the west coast of the U.S. Table #9.2.5 contains
prices from both companies for specific fish types ("Seafood
online," 2013) ("Buy sushi grade," 2013). Data is in following
table:
Fish
All Fresh Seafood Prices
Catalina Offshore Products Prices
Cod
19.99
17.99
Tilapi
6.00
13.99
Farmed Salmon
19.99
22.99
Organic Salmon
24.99
24.99
Grouper Fillet...
All Fresh Seafood is a wholesale fish company based on the east coast of the U.S....
All Fresh Seafood is a wholesale fish company based on the east
coast of the U.S. Catalina Offshore Products is a wholesale fish
company based on the west coast of the U.S. Table #9.2.5 contains
prices from both companies for specific fish types ("Seafood
online," 2013) ("Buy sushi grade," 2013). Data is in following
table:
Fish
All Fresh Seafood Prices
Catalina Offshore Products Prices
Cod
19.99
17.99
Tilapi
6.00
13.99
Farmed Salmon
19.99
22.99
Organic Salmon
24.99
24.99
Grouper Fillet...
All Fresh Seafood is a wholesale fish company based on the east coast of the U.S....
All Fresh Seafood is a wholesale fish company based on the east
coast of the U.S. Catalina Offshore Products is a wholesale fish
company based on the west coast of the U.S. Table #9.2.5 contains
prices from both companies for specific fish types ("Seafood
online," 2013) ("Buy sushi grade," 2013). Data is in following
table:
Fish
All Fresh Seafood Prices
Catalina Offshore Products Prices
Cod
19.99
17.99
Tilapi
6.00
13.99
Farmed Salmon
19.99
22.99
Organic Salmon
24.99
24.99
Grouper Fillet...
All Fresh Seafood is a wholesale fish company based on the east coast of the U.S....
All Fresh Seafood is a wholesale fish
company based on the east coast of the U.S. Catalina Offshore
Products is a wholesale fish company based on the west coast of the
U.S. The table below contains prices from both companies for
specific fish types ("Seafood online," 2013) ("Buy sushi grade,"
2013). Do the data provide enough evidence to show that a west
coast fish wholesaler is more expensive than an east coast
wholesaler? Test at the 5% level.
Table #2:...
All Fresh Seafood is a wholesale fish company based on the east coast of the U.S....
All Fresh Seafood is a wholesale fish company based on the east
coast of the U.S. Catalina Offshore Products is a wholesale fish
company based on the west coast of the U.S. Table #9.2.5 contains
prices from both companies for specific fish types ("Seafood
online," 2013) ("Buy sushi grade," 2013). Do the data provide
enough evidence to show that a west coast fish wholesaler is more
expensive than an east coast wholesaler? Test at the 5% level.
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