A Market Research Firm Is Conducting a Study to Determine $\alpha$

question 56

Essay

A market research firm is conducting a study to determine which of two package designs for a liquid soap product potential customers prefer, the current design (A) or a new design (B). A sample of 40 potential customers is taken. The results follow.
Use Excel to conduct the appropriate hypothesis test at $\alpha$ = .05 to determine if the data indicate that there is a difference in preference between the two designs.

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Definitions:

Wage Rate

The fixed amount of compensation or payment provided to an employee by an employer in return for work performed, typically expressed per hour or year.

Utility Maximizer

An individual or entity that seeks to achieve the highest level of satisfaction possible from their consumption choices, given their resources.

Net Seller

An individual or entity that sells more than it purchases in a given market, often resulting in a net inflow of funds.

Net Buyer

An entity or individual that purchases more of a commodity or asset than they sell in a specific period.