asked 210k views
0 votes
Alice wanted to compare birthday cake prices in two supermarkets. She wrote down the daily prices for a few days and found that the difference of the two sample means is $4.01. The standard deviation of the difference of the sample means is $5.46. The 95% confidence interval of the sample mean difference is between and .

asked
User Sudoremo
by
7.7k points

1 Answer

0 votes

Final answer:

This question falls under the field of Mathematics and is suitable for College-level students. It revolves around statistical concepts like hypothesis testing and standard deviation used in comparing means, calculating intervals, and understanding data variability.

Step-by-step explanation:

The subject of this question is Mathematics, specifically within the area of statistics. It deals with understanding and performing hypothesis tests, calculating confidence intervals, and analyzing standard deviations to compare different sample means. For example, to test if the average cost of calculators has a greater standard deviation than $15, a chi-square test for variance would be used. Similarly, to challenge the claim of a manufacturer regarding the narrow standard deviation of the price of a computer, the standard deviation of a sample of prices would be computed and compared to the claimed standard deviation using a hypothesis test.

Understanding whether the standard deviation can exceed the average relates to the concept that standard deviation measures how spread out the data is. It's possible for standard deviation to be larger if there are extreme values in the data set. The likelihood of an average salary falling within a specific range depends on the distribution of the salaries and can be better understood with knowledge of the Central Limit Theorem and probability distributions.

The information about supermarket wait times using standard deviation underscores the importance of this measure in indicating the variability or consistency in data sets; with a higher standard deviation indicating more variation in wait times, as seen at Supermarket B compared to Supermarket A.

answered
User Prnsml
by
7.6k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.