simple hypothesis test please be clear withalgorithm
The United States and Japan often engage in intense tradenegotiations. U.S. officials claim that Japanese manufacturersprice their goods higher in Japan than in the United States, ineffect subsidizing the low prices in the United States withextremely high prices in Japan. According to the U.S. argument,Japanese manufactures accomplish this by preventing U.S. good fromreaching the market.
An economist decides to test the hypothesis that higher retailprices are being charged for automobiles in Japan than in theUnited States. She obtains independent samples from 50 retail salesin the United States and 50 sales in Japan over the same time. Shefound the sample average of the U.S. sales to be 26,596 and thesample average of the Japanese sales to be 27,236. The standarddeviations were 1,981 and 1,974 respectively.
Using an alpha of 5%, conduct a hypothesis test.
Please solve clearly displaying the following:
What is the null hypothesis?
critical value?
What is the p-value?
declared alpha?
critical value?
Draw a conclusion?
