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We Are Interested in Comparing the Average Supermarket Prices of Two

question 75

Multiple Choice

We are interested in comparing the average supermarket prices of two leading colas. Our sample was taken by randomly selecting eight supermarkets and recording the price of a six-pack of each
Brand of cola at each supermarket. The data are shown in the following table: $We are interested in comparing the average supermarket prices of two leading colas. Our sample was taken by randomly selecting eight supermarkets and recording the price of a six-pack of each Brand of cola at each supermarket. The data are shown in the following table: Find a 98 \% confidence interval for the difference in mean price of brand 1 and brand 2 . A) 0.0375 \pm 0.0471 B) 0.0375 \pm 0.0347 C) 0.0375 \pm 0.1393 D) 0.0375 \pm 0.0404$

Find a $98 \%$ confidence interval for the difference in mean price of brand 1 and brand 2 .

Definitions:

Dictator Game

A behavioral economics experiment that tests how fairly individuals split money or resources between themselves and others without enforcement mechanisms.

Ultimatum Game

A game in economic experiments where one player proposes a division of a sum of money and the other player can accept or reject the proposal, testing concepts of fairness and decision-making.

Behavioral Economists

Economists who study the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions.

Human Behavior

The range of actions and mannerisms exhibited by humans in conjunction with their environment, which can be influenced by culture, attitudes, emotions, and genetics.