A marketing research firm wishes to compare the prices charged by two supermarket chainsMillers and Alberts. The

Question:

A marketing research firm wishes to compare the prices charged by two supermarket chains—Miller’s and Albert’s. The research firm, using a standardized one-week shopping plan (grocery list) makes identical purchases at 10 of each chain’s stores. The stores for each chain are randomly selected, and all purchases are made during a single week. It is found that the mean and the standard deviation of the shopping expenses at the 10 Miller’s stores are $121.92 and $1.40, respectively. It is also found that the mean and the standard deviation of the shopping expenses at the 10 Albert’s stores are $114.81 and $1.84, respectively. Assuming normality, test to see if the corresponding population variances differ by setting α equal to .05. Is it reasonable to use the equal variances procedure to compare population means? Explain.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Essentials Of Business Statistics

ISBN: 9780078020537

5th Edition

Authors: Bruce Bowerman, Richard Connell, Emily Murphree, Burdeane Or

Question Posted: