simple hypothesis test please be clear with algorithm The United States and Japan often engage in...

simple hypothesis test please be clear with algorithm

The United States and Japan often engage in intense trade negotiations. U.S. officials claim that Japanese manufacturers price their goods higher in Japan than in the United States, in effect subsidizing the low prices in the United States with extremely high prices in Japan. According to the U.S. argument, Japanese manufactures accomplish this by preventing U.S. good from reaching the market.

An economist decides to test the hypothesis that higher retail prices are being charged for automobiles in Japan than in the United States. She obtains independent samples from 50 retail sales in the United States and 50 sales in Japan over the same time. She found the sample average of the U.S. sales to be 26,596 and the sample average of the Japanese sales to be 27,236. The standard deviations were 1,981 and 1,974 respectively.

Using an alpha of 5%, conduct a hypothesis test.

Please solve clearly displaying the following:

What is the null hypothesis?

critical value?

What is the p-value?

declared alpha?

critical value?

Draw a conclusion?

Expert Solution

milcah answered 1 year ago

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