Question

A consumer is interested in whether the price of books in Canada has declined as a result of the strengthening of the Canadian dollar. She records the prices of several books she bought last year, and uses her bookstore's website to discover current prices for these books. The prices are shown in Exhibit 10.20. At the 5% significance level, is there evidence of a decrease in book prices compared with last year? What cautions should you have about your conclusion?


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  • CreatedJuly 12, 2015
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