Question

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

Answer 1

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