Americas Market Basket An advertisementfor a popular
Chapter 10, Problem 41(choose chapter or problem)
Americas Market Basket An advertisementfor a popular supermarket chain claimsthat it has had consistently lower prices than one of itscompetitors. As part of a survey conducted by an independentprice-checking company, the average weeklytotal, based on the prices of approximately 95 items, isgiven for this chain and for its competitor recordedduring four consecutive weeks in a particular month.Week Advertiser ($) Competitor ($)1 254.26 256.032 240.62 255.653 231.90 255.124 234.13 261.18a. Is there a significant difference in the average pricesfor these two different supermarket chains?b. What is the approximate p-value for the test conductedin part a? c. Construct a 99% confidence interval for the differencein the average prices for the two supermarketchains. Interpret this interval.
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