Question
The elasticity values of two independent different types of products are analyzed. Elasticity of product I...
The elasticity values of two independent different types of products are analyzed. Elasticity of product I has mu_1= 121 and sigma_1= 20 whereas elasticity of product II has mu_2= 132 and sigma_2= 12. Random samples of n_1=25 products and n_2=36 products are selected What is the standard error of the difference of the two sample means??
Homework Answers
Answer #1
We have to find the standard error of the difference of the two sample means
The values provided in the above question are as below
Elasticity of product I :
Elasticity of product II :
The formula of the standard error of the difference of the two sample means
Using the above values
The standard error of the difference of the two sample means is 4.4721
Summary :-
The standard error of the difference of the two sample means is 4.4721
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