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Got Milk? - PowerPoint PPT Presentation


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Got Milk?. Pose a Question. Which grocery stores sell cheaper milk? Major chain stores or neighborhood stores? Population of interest: Major and neighborhood grocery stores. Purpose.

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Presentation Transcript
pose a question
Pose a Question
  • Which grocery stores sell cheaper milk?
  • Major chain stores or neighborhood stores?

Population of interest:

Major and neighborhood grocery stores

purpose
Purpose
  • We will be conducting a two sample T test to compare the prices grocery store items at major and neighborhood stores.
  • We will be comparing the prices of:
  • Dean’s Milk
  • We choose to do this project because many people frequent the grocery stores and people would like to know which type of stores sell the cheapest grocery
conducting an experiment
We will visit 3 neighborhood stores:

The Village

Skip’s

Bronzeville Food &Liquors

We will record the price of Dean’s milk

We will also visit 3 major grocery stores:

Jewel Osco

Wal-mart

Dominick’s

We will also record these prices of Dean’s milk

Strengths:

We are directly getting the prices from each store

We are using a world wide used grocery item, milk, and getting the same brand of Dean’s Milk

Weakness:

We are only testing three local & major grocery stores, so it may not convey accurate store prices for major and local grocery stores

Conducting an experiment
our confidence
Our Confidence
  • We are confident that our sample represents the population because we went to three different areas of Chicago and three of the most popular grocery stores in the United States.
slide6
Neighborhood Grocery Stores :

Village:

$3.29

Skip’s:

$4.99

Bronzeville food & liquors:

$.99

Average milk price:

$3.09

Major Grocery Stores:

Wal-mart:

$2.99

Dominick’s:

$3.99

Jewel Osco:

$3.99

Average milk price:

$3.66

Data
data summary
Data Summary
  • Neighborhood Grocery Stores
    • Standard Deviation= 2.01
    • Five Number Summary
      • Min= .99
      • Q1= .99
      • Med= 3.29
      • Q3= 4.99
      • Max= 4.99
  • Major Grocery Stores
    • Standard Deviation= .58
    • Five Number Summary
      • Min= 2.99
      • Q1= 2.99
      • Med= 3.99
      • Q3= 3.99
      • Max= 3.99
descriptions of statistics and graphs
Descriptions of Statistics and Graphs
  • Neighborhood Grocery Stores
    • Shape
      • Skewed to the right
    • Outliers
      • Bronzeville Food & Liquor ($.99)
  • Major Grocery Stores
    • Shape
      • Slightly skewed to the left
    • Outliers
      • None
inference procedure er
Inference Procedureer
  • Ho- Price of milk at neighborhood and major stores are the same.
  • Ha- Price of milk at neighborhood and major stores are not the same.
sample
Sample
  • We will use the two sample T test
  • To determine if local or major grocery stores sell cheaper milk
  • Parameters:
  • Our sample data is independent
  • =[t = [ (x1 - x2) - d ] / SE
results
Results
  • Using the TI-83 Calculator we found that the:
  • Df=2
  • t=.46
  • SE=1.20
  • P value=.68

We will reject the alternate hypothesis that Neighborhood stores sell cheaper milk than major grocery stores at the .05 alpha level because our P value is significantly higher.

conclusion
Conclusion
  • We conclude that although neighborhood grocery stores seem as though they would have cheaper milk, and items in general they do not have considerably cheaper prices than major grocery stores.