Question: the casamigos tequila company produces two different types of tequila...
The Casamigos tequila company produces two different types of tequila, silver and gold. They want to see if people rate the two types differently. If they find a statistically significant difference between the two, they will be able to charge a higher price for the higher rated type of tequila. To test their claim, they conduct a focus group with 275 participants. Each of the participants were asked to rate the tequila on a scale from 1 to 10, with 1 being the worst and 10 being the best tequila they had ever had. Within the group, 150 of the participants were given the silver tequila, and 125 were given the gold tequila.
Those who had the silver tequila rated it an average 9.57, while those who had the gold tequila rated it an average 9.31. The know population variance for silver tequila is 0.91 and for gold tequila it is 1.3. Let the silver tequila be population 1 and the gold tequila be population 2.
Calculate the appropriate 95% confidence interval and enter your answer below. Round your answers to 4 decimal
Calculate the appropriate test statistic needed to test your claim. Round your final answer to 4 decimals. Hint: Make sure you are using the correct formula based on the information given in the problem.
Find and enter the correct critical value needed to test your claim at the 5% significance level. Round your final answer to 4 decimals. Hint: Things you will need to know: alpha, df, is this one or two-tailed test, and which table to use!