Answer:
a) critical values ≈ -3.182 and 3.182 shows that there is difference in average prices
b) H0 : μd = 0
Ha : μd ≠ 0
Step-by-step explanation:
<u>a) Determine if there is any significant difference in the average prices </u>
using ∝ = 0.05
and μ( advertiser ) - μ ( competitor ) = μd
test statistic ( t ) = -3.011
df = 3
hence the critical values ( two tailed test ) = -3.182 and 3.182. this shows that there is sufficient evidence to show that there is difference in the average prices
<u>b) state the hypothesis</u>
H0 : μd = 0 ( null )
Alternate hypothesis : Ha : μd ≠ 0
Below are the choices that can be found elsewhere:
<span>a. $1,158.33
b. $1,069.23
c. $2,316.66
d. $1,539.22
</span>
Below is the solution:
$27,800 / 12 months = 2,316
$2,316 / 2 since it bi-monthly = $1,158.33
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It should take approximately 27 days using the water at an average of. 450 gallons per day
