In 2007, the United States experienced the biggest jump in food prices in 17 years (The Wall Street Journal, April 1, 2008). A variety of reasons led to this result, including rising demand for meat and dairy products in emerging overseas markets, increased use of grains for alternative fuels, and bad weather in some parts of the world. A survey compared prices (in $) of selected products at grocery stores in the Boston area. The accompanying table shows the results.
In a report, use the sample information to
Determine whether differences exist in the average prices of products sold at the three stores at the 5% significance level.
Determine whether differences exist in the average prices of the 11 products at the 5% significance level.
Determine which stores’ prices differ using Tukey’s HSD method, if it is found that differences exist in the average prices among these three stores. Use a 5% significance level.
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