Statement of a problem № m40420


A student group at a university located in the Midwest is conducting a study to determine whether there is a difference between textbook prices for new textbooks sold by the on-campus bookstore and an Internet retailer. A random sample of 10 textbooks was taken, and the campus price and the Internet retailer’s price for each textbook were collected. At the 0.01 level of significance, can the student group conclude that there is a difference in average textbook prices for new textbooks sold on campus and over the Internet?

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