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Hypothesis Testing of Mean: Prototypes

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(11.28)

When companies are designing a new product, one of the steps typically taken is to see how potential buyers react to a picture or prototype of the proposed product. The product-development team for a notebook computer company has shown picture A to a large sample of potential buyers and picture B to another, asking each to indicate what they "would expect to pay" for such a product. The data resulting from the two pictures are provided in file XR11028. Using the 0.05 level of significance, determine whether the prototypes might not really differ in terms of the price that potential buyers would expect to pay. Identify and interpret the p-value for the test. Construct and interpret the 95% confidence interval for the difference between the population means. Is the hypothesized difference (0.00) within the interval? Given the presence or absence of the 0.00 value within the interval, is this consistent with the findings of the hypothesis test?
Computer A Computer B
3317 2965
2680 3083
3286 3137
2859 2950
2693 3161
2945 2918
2908 3158
3193 3082
3240 2903
3040 3103
2906 3042
3285 3041
3126 3234
3114 2985
3079 3070
3054 3061
3089 2947
3006 3035
3323 3042
2944 3261
3099 3410
3387 3396
3073 3229
3517 3191
2668 3091
3025 3322
3096 3291
3349 2883
2851 2902
2943 3286
3430 3209
3274 2997
3212 3335
2663 3033
2968 3286
2738 3376
2701 3322
3296 3074
2887 3049
2849 3042
3001
3209
2693
2888
3303

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https://brainmass.com/statistics/hypothesis-testing/hypothesis-testing-of-mean-prototypes-342063

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The solution provides step by step method for the calculation of testing of hypothesis. Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included. The user can edit the inputs and obtain the complete results for a new set of data.

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Hypothesis test for proposed product of a notebook computer company

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11.28 When companies are designing a new product, one
of the steps typically taken is to see how potential buyers
react to a picture or prototype of the proposed product.
The product-development team for a notebook computer
company has shown picture A to a large sample of potential
buyers and picture B to another, asking each person
to indicate what they "would expect to pay" for such a
product. The data resulting from the two pictures are
provided in file XR11028. Using the 0.05 level of
significance, determine whether the prototypes might not
really differ in terms of the price that potential buyers
would expect to pay. Identify and interpret the p-value
for the test. Construct and interpret the 95% confidence
interval for the difference between the population means.
Is the hypothesized difference (0.00) within the interval?
Given the presence or absence of the 0.00 value within
the interval, is this consistent with the findings of the
hypothesis test?

t-Test: Two-Sample Assuming Unequal Variances

ComputerA ComputerB
Mean 3049.044444 3122.55
Variance 51921.72525 22129.07
Observations 45 40
Hypothesized Mean Difference 0
df 76
t Stat -1.779090075
P(T<=t) one-tail 0.0396117
t Critical one-tail 1.665151353
P(T<=t) two-tail 0.0792234
t Critical two-tail 1.99167261

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