Test for equality of average price

Reference no: EM131381153

Toys are entering the virtual world, and Mattel recently developed a digital version of its famous Barbie. The average price of the virtual doll is reported to be $60.16 A competing product sells for an average of $65.

Suppose both averages are sample estimates based on independent random samples of 25 outlets selling Barbie software and 20 outlets selling the competing virtual doll, and suppose the sample standard deviation for Barbie is $14 and for the competing doll it is $8.

Test for equality of average price using the 0.05 level of significance.

Reference no: EM131381153

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