Conduct a two-sample t test on the data (assume equal variances):

a. Write the null and alternative hypotheses.

b. What is the mean shrink for Store 1? For Store 2?

c. What is the two-tailed p value?

d. Can you reject the null hypothesis?

The dataset given in Table 7.8 shows the monthly shrink rates in stores 1 and 2. Use this dataset (Table 7.8) for this exercise.

Table 7.8

Store 1 1.80% 1.70% 1.75% 1.66% 1.68% 1.90% 1.84% 1.85% 1.65% 1.55% 1.55% 1.90% Store 2 1.43% 1.55% 1.66% 1.68% 1.55% 1.44% 1.65% 1.70% 1.70% 1.65% 1.65% 11.43%