In a consumer research study, several Meijer and Walmart stores were surveyed at random and the...

In a consumer research study, several Meijer and Walmart stores were surveyed at random and the average basket price was recorded for each. You wish to determine if the average basket price for Meijer is different from the average basket price for Walmart. It was found that the average basket price for 18 randomly chosen Meijer stores (group 1) was $49.451 with a standard deviation of $12.3146. Similarly, a random sample of 25 Walmart stores (group 2) had an average basket price of $56.847 with a standard deviation of $13.7821. Perform a two independent samples t-test on the hypotheses Null Hypothesis: μ₁ = μ₂, Alternative Hypothesis: μ₁ ≠ μ₂. What is the test statistic and p-value of this test? You can assume that the standard deviations of the two populations are statistically similar.

Question 14 options:

1)	Test Statistic: -1.813, P-Value: 0.9615

2)	Test Statistic: -1.813, P-Value: 0.0385

3)	Test Statistic: -1.813, P-Value: 1.9615

4)	Test Statistic: -1.813, P-Value: 0.077

5)	Test Statistic: 1.813, P-Value: 0.077

Expert Solution

milcah answered 1 year ago

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In a consumer research study, several Meijer and Walmart stores were surveyed at random and the...

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