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# A manufacturer produces both a deluxe and a standard model of an

A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home use. Selling prices obtained from a sample of retail outlets follow.

 Retail Outlet Deluxe Model Price (\$) Standard Model Price (\$) 1 40 27 2 39 28 3 43 35 4 38 31 5 40 30 6 39 32 7 36 29

The manufacturer’s 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 the prices of the two models is \$10.

Develop the null and alternative hypotheses.

Calculate the value of the test statistic. If required enter negative values as negative numbers. (to 2 decimals).

10.00

The p-value is

Can you conclude that the price differential is not equal to \$10?

What is the 95% confidence interval for the difference between the mean prices of the two models (to 2 decimals)?
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