In a consumer research study, several Meijer and Walmart storeswere surveyed at random and the average basket price was recordedfor each. You wish to determine if the average basket price forMeijer is different from the average basket price for Walmart. Itwas found that the average basket price for 18 randomly chosenMeijer stores (group 1) was $49.451 with a standard deviation of$12.3146. Similarly, a random sample of 25 Walmart stores (group 2)had an average basket price of $56.847 with a standard deviation of$13.7821. Perform a two independent samples t-test on thehypotheses Null Hypothesis: ?1 = ?2,Alternative Hypothesis: ?1 ? ?2. What is thetest statistic and p-value of this test? You can assume that thestandard deviations of the two populations are statisticallysimilar.
Question 14 options:
| 1) | Test Statistic: -1.813, P-Value: 0.9615 |
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| 2) | Test Statistic: -1.813, P-Value: 0.0385 |
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| 3) | Test Statistic: -1.813, P-Value: 1.9615 |
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| 4) | Test Statistic: -1.813, P-Value: 0.077 |
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| 5) | Test Statistic: 1.813, P-Value: 0.077 |
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