1.a) The population of interest would be the entire line of potato chips, dips and salsa’s from both Wal-Mart and Albertsons
1.b) I took the representative sample from the population of interest by randomly choosing 10 different items from the population. I then went to Wal-Mart and found the items that I had chosen at Albertsons, and found the prices for them also.
1.d) The plots do suggest differences amontg the population mean. The characteristics are the way the data is scattered about the mean, which is zero. Any skew from the mean, will mean a price difference.
1.e) Please click on hyperlink to get all of the Excel calculations.Dot plot Please click on hyperlink to view dot plot. Box plot Please click on hyperlink to view box plot.
1.f) 1. H○: µ < 0 , Hа: µ> 0
2. đ = -0.54
Sď = .77
T* = -2.24
3) +To.1, 10 = 1.38
4) Since –2.24 is less than –0.54, accept Ho.
1.g) p-value is .05
1.h) I believe the instructor should shop at Wal-Mart for all of his potato chips, dips, and salsa needs. As shown by all of the previous data, the prices there are much lower.