A Local Consumer Reporter Wants to Compare the Average Costs

question 8

Multiple Choice

A local consumer reporter wants to compare the average costs of grocery items purchased at three different supermarkets, A, B, and C. Prices (in dollars) were recorded for a sample of 60 randomly selected grocery items at each of the three supermarkets. In order to reduce item-to-item variation,
The prices were recorded for each item on the same day at each supermarket.
The results of a Bonferroni analysis are summarized below. $$\begin{array} { l c c c } \text { Supermarket } &\mathrm { A } & \overline{\mathrm { B }\quad\quad\quad \quad \mathrm { C }} \\\text { Mean Price } & 1.665 & 1.919 \quad1.925\end{array}$$ Interpret the Bonferroni analysis results.

• A) A has a significantly smaller mean price than either of the other two supermarkets.
• B) C has a significantly larger mean price than either of the other two supermarkets.
• C) B and C have significantly different mean prices.
• D) A has a significantly larger mean price than either of the other two supermarkets.

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Definitions:

Acceptance

In contract law, the act of agreeing to the terms of an offer, thereby creating a binding contract.

Offeree's Duty

The legal obligations or responsibilities of a person or entity to whom an offer is made, especially in contract formation.

Imposed

Set or laid as a burden, duty, tax, or penalty; usually applied or enforced authoritatively.

Acceptance

The act of agreeing to the terms of an offer, thereby creating a binding contract.