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Hypothesis test for difference between two means:
A manufacturer produces both a deluxe and a standard model of an automatic vehicle designed for home use. Selling prices obtained from a sample of retail outlets follow.
Model Price ($)
Retail Outlet
Deluxe
Standard
1
39
27
5
40
30
2
28
6
34
3
45
35
7
29
4
38
a) The manufacturer's suggested retail prices for the two models show a $10 price per ferential. Use a 0.05 level of significance and test that the mean difference between the prices of the two models is $10.
b) What is the 95% confidence interval for the difference between the mean prices of the two models?
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What is the likelihood the sample mean is greater than $22.50 but less than $25.00?
Number of miles flown in a One- year period by the sample of "frequent flyers" was recorded. Is this a grouped or an ungrouped frequency distribution?
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What is the approximate estimated bootstrap standard error of the median, What is the approximate bias of the median estimated from bootstrapping - What is the bootstrap t confidence interval for the median
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