A Consumer Was Interested in Determining Whether There Is a Significant

question 5

Short Answer

A consumer was interested in determining whether there is a significant difference in the price charged for tools by two hardware stores. The consumer selected five tools and recorded the price for each tool in each store. The following data was recorded: Are the samples independent? Justify your answer.
Perform the appropriate test of hypothesis to determine whether there is a significant difference, on the average, in the price of tools between the two stores. Use = 0.05.
Use the Data Analysis software if you prefer.
Test Statistic = __________________________________________
Reject Region: Reject H₀ if |t| > ______________
Conclusion: ______________
One ______________ conclude that there is a significant difference in the average price of tools between the two stores.

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Definitions:

Procedural Justice

The fairness of the processes that lead to outcomes or decisions, fostering a sense of justice based on transparency, consistency, and impartiality.

Policies and Rules

Established guidelines and procedures set by organizations or institutions to dictate acceptable behavior and actions, ensuring orderly function and compliance with standards.

Fairly Applied

A principle ensuring policies, rules, and decisions are implemented in a just, equitable, and unbiased manner.

Commutative Justice

A form of justice that refers to the fairness in agreements and exchanges between individuals or groups, ensuring what is exchanged is of equal value.