Construct and Interpret Confidence Intervals About the Population Mean Difference $98 \%$

question 33

Multiple Choice

Construct and Interpret Confidence Intervals about the Population Mean Difference of Matched -Pairs Data
-We are interested in comparing the average supermarket prices of two leading colas in the Tampa area. Our sample was taken by randomly going to each of eight supermarkets and recording the price of a six - pack of cola of each brand. 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. Assume that the paired data came from a population that is normally distributed.

• A) \(( - 0.0779,0.0029 )\)
• B) \(( - 0.1768,0.1018 )\)
• C) \(( - 0.0846,0.0096 )\)
• D) \(( - 0.0722 , - 0.0028 )\)

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Definitions:

Exchange Rate

The price of one currency in terms of another currency.

Accounts Receivable-Kagome

An account representing money owed to Kagome (presumably a company) by its customers for goods or services that have been delivered but not yet paid for.

Equity Method Investments-Ferris

A specific example or case of using the equity method for accounting for investments in which an investor has significant influence over the investee, but does not control it.

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Payments made by a company to its shareholders out of its profits in the form of cash.