A manufacturer produces both a deluxe and a standard

QUESTION

A manufacturer produces both a deluxe and a standard model of an automatic sanderdesigned for home use. Selling prices obtained from a sample of retail outlets follow.Model Price ($) Model Price ($)Retail Outlet Deluxe Standard Retail Outlet Deluxe Standard1 39 27 5 40 302 39 28 6 39 343 45 35 7 35 294 38 30a. The manufacturers suggested retail prices for the two models show a $10 price differential.Use a .05 level of significance and test that the mean difference between theprices of the two models is $10.b. What is the 95% confidence interval for the difference between the mean prices of thetwo models?

ANSWER

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