The following data was collected about the price of textbooks. Each book was priced both at...

 

  

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The following data was collected about the price of textbooks. Each book was priced both at a college bookstore and online. Based on this sample of data, at a 5% significance, is there any evidence to show that the textbooks purchased online are cheaper than the ones sold by the bookstore? Author Author Bade Baumol Brigham Foner Grewal Landy Mankiew Meyer Mitchell Nickels Parsons Pindyck Robbins Ross Spiceland Title Foundations of Microeconomics Macroeconomics Financial management Give me Liberty Marketing Work in the 21st Century Principles of macroeconomics Matrix Analysis Public Affairs in the Nation Understanding Business Microsoft Excel 2013 Microeconomics Organizational behavior Fundamentals of corporate finance Intermediate accounting American Government Bookstore 136.25 223.25 295.5 111.75 184 102.25 223.25 100 55.95 227.75 150 221.25 225.25 251.25 230.5 160.5 Online 160.86 195.8 203.24 89.3 133.71 111.05 219.8 71.14 102.99 157.46 102.69 197.3 184.3 200.01 234.58 133.26 4 On the next page you will find three Excel outputs. Select the only Excel output that is correct for this specific problem (only one output refers to the correct t-test). Extract from the correct Excel output all the relevant information to complete a hypothesis test: t-Test: Paired Two Sample for Means (below) Mean Variance Observations Pearson Correlation Hypothesized Mean Difference df t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail df t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail Bookstore Online 181.1688 156.0931 4427.824 2591.104 16 16 0.851169 t-Test: Two-Sample Assuming Equal Variances (below) Mean Variance Observations Pooled Variance Hypothesized Mean Difference Mean Variance Observations Hypothesized Mean Difference 0 15 2.833797 0.006286 1.75305 df t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail 0.012572 2.13145 Bookstore Online 181.1688 156.0931 4427.824 2591.104 16 16 3509.464 t-Test: Two-Sample Assuming Unequal Variances (below) 1.197227 0.120297 1.697261 0.240593 2.042272 0 30 Bookstore Online 181.1688 156.0931 4427.824 2591.104 16 16 0 28 1.197227 0.120628 1.701131 0.241256 2.048407 State the hypotheses: Graph all the relevant information from the problem (appropriate scale, critical value(s), alpha, rejection region, test statistic, p-value) State the decision rule both by comparing the TS to the CV and by comparing the p-value to alpha Specify the value of the test statistic and the corresponding p-value: Justification and conclusion What type of error is your conclusion subject to? The following data was collected about the price of textbooks. Each book was priced both at a college bookstore and online. Based on this sample of data, at a 5% significance, is there any evidence to show that the textbooks purchased online are cheaper than the ones sold by the bookstore? Author Author Bade Baumol Brigham Foner Grewal Landy Mankiew Meyer Mitchell Nickels Parsons Pindyck Robbins Ross Spiceland Title Foundations of Microeconomics Macroeconomics Financial management Give me Liberty Marketing Work in the 21st Century Principles of macroeconomics Matrix Analysis Public Affairs in the Nation Understanding Business Microsoft Excel 2013 Microeconomics Organizational behavior Fundamentals of corporate finance Intermediate accounting American Government Bookstore 136.25 223.25 295.5 111.75 184 102.25 223.25 100 55.95 227.75 150 221.25 225.25 251.25 230.5 160.5 Online 160.86 195.8 203.24 89.3 133.71 111.05 219.8 71.14 102.99 157.46 102.69 197.3 184.3 200.01 234.58 133.26 4 On the next page you will find three Excel outputs. Select the only Excel output that is correct for this specific problem (only one output refers to the correct t-test). Extract from the correct Excel output all the relevant information to complete a hypothesis test: t-Test: Paired Two Sample for Means (below) Mean Variance Observations Pearson Correlation Hypothesized Mean Difference df t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail df t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail Bookstore Online 181.1688 156.0931 4427.824 2591.104 16 16 0.851169 t-Test: Two-Sample Assuming Equal Variances (below) Mean Variance Observations Pooled Variance Hypothesized Mean Difference Mean Variance Observations Hypothesized Mean Difference 0 15 2.833797 0.006286 1.75305 df t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail 0.012572 2.13145 Bookstore Online 181.1688 156.0931 4427.824 2591.104 16 16 3509.464 t-Test: Two-Sample Assuming Unequal Variances (below) 1.197227 0.120297 1.697261 0.240593 2.042272 0 30 Bookstore Online 181.1688 156.0931 4427.824 2591.104 16 16 0 28 1.197227 0.120628 1.701131 0.241256 2.048407 State the hypotheses: Graph all the relevant information from the problem (appropriate scale, critical value(s), alpha, rejection region, test statistic, p-value) State the decision rule both by comparing the TS to the CV and by comparing the p-value to alpha Specify the value of the test statistic and the corresponding p-value: Justification and conclusion What type of error is your conclusion subject to?

Answer rating: 100% (QA)

Answers Since the books are the same for each observation we will use the paired ttest fo... View the full answer