Homework SourseThe data set for this experiment is in the excel file Projec
The data set for this experiment is in the excel file “Project 2 Data”.
Answer each of the questions below using hypothesis testing. Follow the seven-step procedure for testing a hypothesis in your text book as a guide for answering the questions. Use a .05 significance level. In each case, calculate the p-value.
Is the mean textbook price for the College Bookstore different from 150?
Is the mean text book price for the Online Retailer less than 150?
Is the mean textbook price for the College Bookstore greater than that for the Online Retailer? Use a pooled t-test.
Is the mean textbook price for the College Bookstore greater than that for the Online Retailer? Use a paired difference t-test.
Turn in your findings as described below. Generally the report will be graded for clarity (how easy it is to understand you), completeness (no significant gaps in the information provided) and correctness (the values and descriptions are correct). The report will also be graded on adherence to the report standard. The report will be structured as follows
Section 1: For each question, provide
The null hypothesis
The alternate hypothesis
The test statistic chosen and test used
The critical value and decision rule
The P-value
Your findings
Section 2: Questions 3 and 4 ask for two different approaches to the same question. The results differ. Write a paragraph describing which approach is the most appropriate. You should end with a clear (yes-no) conclusion to the question.
| Author | Title | Bookstore | Online |
| Pride | Business 10/e | 132.75 | 135.91 |
| Carroll | Business and Society | 204.50 | 174.58 |
| Quinn | Ethics for the Information Age | 81.00 | 65.00 |
| Bade | Foundations of Microeconomics 5/e | 153.50 | 120.43 |
| Case | Principles of Macroeconomics 9/e | 154.50 | 215.99 |
| Brigham | Financial Management 13/e | 217.00 | 195.10 |
| Griffin | Organizational Behavior 9/e | 199.75 | 163.71 |
| George | Understanding and Managing Organizational Behaviior 5/e | 149.00 | 177.63 |
| Grewel | Marketing 2/e | 135.00 | 95.89 |
| Barlow | Abnormal Psychology | 184.25 | 145.49 |
| Foner | Give Me Liberty: Seagull Ed. (V2) 2/e | 46.50 | 35.60 |
| Federer | Mathematical interest Theory 2/e | 89.95 | 91.69 |
| Hoyle | Advanced Accounting 9/e | 123.02 | 147.41 |
| Haviland | Talking About People 4/e | 58.50 | 51.93 |
| Fuller | Information Systems Project Management | 89.25 | 81.69 |
| Pindyck | Macroeconomics 7/e | 189.25 | 130.32 |
| Mankiw | Macroeconomics 7/e | 179.25 | 149.48 |
| Shapiro | Multinational Financial Management 9/e | 210.25 | 145.30 |
| Losco | American Government 2010 Edition | 67.75 | 55.16 |
Solution
One-Sample T: Bookstore
Test of = 150 vs 150
Variable N Mean StDev SE Mean 95% CI T P
Bookstore 19 140.3 55.0 12.6 (113.7, 166.8) -0.77 0.451
One-Sample T: Online
Test of = 150 vs < 150
Variable N Mean StDev SE Mean 95% Upper Bound T P
Online 19 125.2 51.5 11.8 145.6 -2.10 0.025
Two-sample T for Bookstore vs Online
SE
N Mean StDev Mean
Bookstore 19 140.3 55.0 13
Online 19 125.2 51.5 12
Difference = (Bookstore) - (Online)
Estimate for difference: 15.1
95% lower bound for difference: -14.1
T-Test of difference = 0 (vs >): T-Value = 0.87 P-Value = 0.194 DF = 35
Paired T for Bookstore - Online
N Mean StDev SE Mean
Bookstore 19 140.3 55.0 12.6
Online 19 125.2 51.5 11.8
Difference 19 15.09 30.64 7.03
95% lower bound for mean difference: 2.90
T-Test of mean difference = 0 (vs > 0): T-Value = 2.15 P-Value = 0.023
