Consider the Following Results for Two Samples Randomly Taken from Two

question 148

Short Answer

Consider the following results for two samples randomly taken from two populations.
$\begin{array}{lcc}&\text { Sample A } & \text { Sample B } \\\text { Sample Size }&28 &30\\\text { Sample Mean }&24 & 22 \\\text { Sample Standard Deviation }&8& 6\end{array}$
a. Determine the degrees of freedom for the t distribution.
b. Develop a 95% confidence interval for the difference between the two population means.
c. Is there conclusive evidence that one population has a larger mean? Explain.

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Definitions:

Standard Markup Pricing

A pricing strategy where a fixed percentage is added to the cost of a product to determine its selling price.

Fixed Percentage

refers to a constant proportion or rate applied, such as a fixed percentage discount on sales or a fixed percentage for calculating commissions.

Sales Volume

The quantity of products or services sold within a specific period, often used as a measure of business performance.