Question

In: Statistics and Probability

A professor in the school of business at a certain university wants to investigate the claim...

A professor in the school of business at a certain university wants to investigate the claim that the prices of new textbooks in the campus store are higher than a competing national online bookstore by more than 50 cents. The professor randomly chooses required texts for 12 business school courses. Use α=0.05

. The data is given in the table below.

Book Campus Store Online Store
A 171.79 171.56
B 155.76 154.72
C 108.11 106.57
D 161.67 156.68
E 151.47 151.18
F 137.68 136.36
G 131.8 130.78
H 39.99 39.46
I 139.67 138.87
J 244.38 240.41
K 115.13 114.37
L 139.49 139.26

(b) Carry out the appropriate statistical test and find the P-value, to at least three decimal places.
P=

Solutions

Expert Solution

Using excel left tailed p-value for checking


Related Solutions

A professor in the school of business at a certain university wants to investigate the claim...
A professor in the school of business at a certain university wants to investigate the claim that the prices of new textbooks in the campus store are higher than a competing national online bookstore by more than 50 cents. The professor randomly chooses required texts for 12 business school courses. Use α=0.05α=0.05. The data is given in the table below. Book Campus Store Online Store A 108.51 109.42 B 200.06 201.93 C 223.52 226.39 D 186.12 183.9 E 121.65 122.13...
A professor in the school of business at a certain university wants to investigate the claim...
A professor in the school of business at a certain university wants to investigate the claim that the prices of new textbooks in the campus store are higher than a competing national online bookstore. The professor randomly chooses required texts for 12 business school courses. The data is given in the table below. Book Number Campus Store Online Store Book 1 125.45 124.27 Book 2 88.37 86.21 Book 3 230.98 229.6 Book 4 151.8 153.02 Book 5 236.44 237.4 Book...
A professor in the School of Business wants to investigate the prices of new textbooks in...
A professor in the School of Business wants to investigate the prices of new textbooks in the campus bookstore and the Internet. The professor randomly chooses the required texts for 12 business school courses and compares the prices in the two stores. The results are as follows: Book Campus Store Internet Price 1 $55.00 $50.95 2 47.50 45.75 3 50.50 50.95 4 38.95 38.50 5 58.70 56.25 6 49.90 45.95 7 39.95 40.25 8 41.50 39.95 9 42.25 43.00 10...
A professor in the School of Business wants to investigate the prices of new textbooks in...
A professor in the School of Business wants to investigate the prices of new textbooks in the campus bookstore and the Internet. The professor randomly chooses the required texts for 12 business school courses and compares the prices in the two stores. The results are as follows: Book Campus Store Internet Price 1 $55.00 $50.95 2 47.50 45.75 3 50.50 50.95 4 38.95 38.50 5 58.70 56.25 6 49.90 45.95 7 39.95 40.25 8 41.50 39.95 9 42.25 43.00 10...
A professor in the School of Business wants to investigate the prices of new textbooks in...
A professor in the School of Business wants to investigate the prices of new textbooks in the campus bookstore and the Internet. The professor randomly chooses the required texts for 12 business school courses and compares the prices in the two stores. The results are as follows: Book Campus Store Internet Price 1 $55.00 $50.95 2 47.50 45.75 3 50.50 50.95 4 38.95 38.50 5 58.70 56.25 6 49.90 45.95 7 39.95 40.25 8 41.50 39.95 9 42.25 43.00 10...
Richard Thaler, (Professor, The University of Chicago Booth School of Business) said: “We failed to learn...
Richard Thaler, (Professor, The University of Chicago Booth School of Business) said: “We failed to learn from the hedge fund failures of the late ’90s.” His message (Links to an external site.)to overconfident risk managers: There’s more risk out there than you think. a) What do you think of Wall Street (or any financial markets)? Do we need Wall Street? Why or Why not? b) What is "The Paradox of Thrift"? How does that apply to our current situation?
Richard Thaler, (Professor, The University of Chicago Booth School of Business) said: “We failed to learn...
Richard Thaler, (Professor, The University of Chicago Booth School of Business) said: “We failed to learn from the hedge fund failures of the late ’90s.” His message (Links to an external site.)to overconfident risk managers: There’s more risk out there than you think. a) What do you think of Wall Street (or any financial markets)? Do we need Wall Street? Why or Why not? b) What is "The Paradox of Thrift"? How does that apply to our current situation?
2. A statistic professor wants to investigate that there is a difference between a man's height...
2. A statistic professor wants to investigate that there is a difference between a man's height and a woman's height at SMC. She gathered 23 female statistics students in her class and found their mean height is 64.217 inches and their standard deviation is 2.2755 inches. On the other hand, there were 12 male statistics students who were asked their height; their mean height is 67.833 inches and the standard deviation is 3.738 inches.   Construct a 95% confidence interval estimate...
In a university 20% students belong to the school of business (B), 15% to the school...
In a university 20% students belong to the school of business (B), 15% to the school of engineering(E) and 30% belong to the school of social sciences(S). Of the school of business students 35% have taken a statistics course, of the school of engineering students 45% have taken a statistics course, and of the school of social sciences students, 20% have taken a statistics course. Between the three schools, what fraction of students have taken a statistics course (Q)? If...
Question 35 A professor in the Accountancy Department of a business school indicated that there is...
Question 35 A professor in the Accountancy Department of a business school indicated that there is much more variability in the final exam scores of students taking the introductory accounting course as a requirement than for students taking the course as part of their major. Random samples of 16 non-accounting majors and 10 accounting majors taken from the professor's class roster in his large lecture and the following results are computed based on the final exam scores: Non-Accounting Major (1)...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT