Related questions
Wheat Prices Analysis:
The U.S. Department of Agriculture (USDA) uses sample surveys to produce important economic estimates. In a pilot study, durum wheat prices were estimated in July and January using independent samples of wheat producers for the two months.
The data is provided in Excel under the WHEAT PRICES sheet.
Although there is variation among prices within each month, the top four prices are all from July, and the four lowest prices are from January. You will run a significance test to check whether the difference between the two months' prices is statistically significant or simply due to chance.
You’ll use α = 0.05 for significance test. Assume that the two Normal population distributions have the same standard deviation.
a) Write out the null and alternative hypotheses associated with the research question.
to generate a solution
a solution
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