America’s Market Basket An advertisement for Albertsons, a supermarket chain in the western United… 1 answer below »

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America’s Market Basket An advertisement for Albertsons, a supermarket chain in the western United States, claims that Albertsons has had consistently lower prices than four other full service supermarkets. As part of a survey conducted by an “independent market basket price-checking company,” the average weekly total, based on the prices of approximately 95 items, is given for two different supermarket chains recorded during 4 consecutive

weeks in a particular month.

Week

Albertsons

Ralphs

1

254.26

256.03

2

240.62

255.65

3

231.90

255.12

4

234.13

261.18

a. Is there a significant difference in the average prices for these two different supermarket chains?

b. What is the approximate p-value for the test conducted in part a?

c. Construct a 99% confidence interval for the difference in the average prices for the two supermarket chains. Interpret this interval.

 

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