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1 answer:
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Answer:
a) t-test for two independent samples
b) For this case we have two different samples and both are less than 30 and we don't have any info about the populationd deviation's. So for this case the most appropiate test is the t-tes for two independent samples
Step-by-step explanation:
The independent t-test, is known as two sample t-test or independent-samples t-test, is an statistical test used to " determines whether there is a statistically significant difference between the means in two unrelated groups"
The system of hypothesis could be on this case like this:
Null hypothesis:
Alternative hypothesis:
Or equivalently:
Null hypothesis:
Alternative hypothesis:
The statistic to check the hypothesis is given by:
And this statistic follows a t distribution with degrees of freedom
We can check the hypothesis using the p value method or the critical approach, but we need to have a significance level.
Part a
i) t-test for two independent samples
Part b
Explain the rationale for your selection in (a). Specifically, why would this be the appropriate statistical approach?
For this case we have two different samples and both are less than 30 and we don't have any info about the populationd deviation's. So for this case the most appropiate test is the t-test for two independent samples
Total number of pairs = 24 pairs.
Total cost of 24 pairs = $800 approximately.
Cost of each pair =
Plugging values in the above formula, we get
Cost of each pair =
If we divide 800 by 24, we get 33.33 approximately.
But in the given problem, estimated cost is given $28 per pair.
If we subtract 33.33-28, we get $5.33.
So, the estimated cost is $5.33 each pair less than the actual cost of each pair.
Therefore, $28 per pair is not a good estimate of the price.