Purchase Solution

Confidence Interval for Mean using t test

Not what you're looking for?

Ask Custom Question

6. Amazon.com claims that its textbook prices are cheaper than those offered by the local college bookstore. To test this claim, you randomly select 15 textbooks that are sold by both. Data File TEXTBOOK gives the prices for those 15 randomly selected textbooks at the local college bookstore and at Amazon.com.

a. Construct a 95% confidence interval estimate for the mean selling price of textbooks at the local bookstore.

b. Construct a 95% confidence interval estimate for the mean selling price of textbooks at Amazon.com.

c. Do the results of parts (a) and (b) support the claim made by Amazon? Explain your answer.

d. What must be true about the data sets to make the confidence intervals you constructed in parts (a) and (b) valid?

Attachments
Purchase this Solution

Solution Summary

This solution is comprised of a detailed explanation of Confidence Interval for Mean using t test. In this solution, step-by-step explanation of this complicated topic provides students with a clear perspective of 95% Confidence Interval for Mean using t test and also the comparison with along with the interpretation.

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.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

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.

Measures of Central Tendency

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