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    Hypothesis Testing of Mean: Prototypes

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    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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    Solution Summary

    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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