Super Target versus Walmart: Who has the lowest prices? Given Walmart’s slogan “Save Money— Live Better,” you suspect that Walmart does. The prices of 33 foods were compared (data extracted from “ Supermarket Showdown,” The Palm Beach Post, February 13, 2011, pp. 1F, 2F) and the results are stored in Target Walmart.
a. At the 0.05 level of significance, is there evidence that the mean price of items is higher at Super Target than at Walmart?
b. What assumption is necessary about the population distribution in order to perform this test?
c. Find the p value in (a) and interpret its meaning.