Purchase Solution

Hypothesis testing:Amazon.com

Not what you're looking for?

Ask Custom Question

Can students save money by buying their textbooks at Amazon.com? To investigate this possibility, a random sample of 15 textbooks used during a recent semester at Miami University was selected. The prices for these textbooks at both a local bookstore and through Amazon.com were recorded. The prices for the textbooks, including all relevant taxes and shipping are given below.

(a) At the 0.01 level of significance, is there evidence of a difference between the mean price of textbooks at the local bookstore and Amazon.com?
(b) What assumption is necessary to perform this test?
(c) Construct a 99% confidence interval estimate of the mean difference in price. Interpret the interval.
(d) Compare the results of (a) and (c).

See attached file for full problem description.

Attachments
Purchase this Solution

Solution Summary

This posting contains solution to following problem on hypothesis testing.

Purchase this Solution


Free BrainMass Quizzes
Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.