Conduct a test for equality of means

Reference no: EM131381012

Recent low-fare flights between Britain and eastern European destinations have brought large groups of English partygoers to cities such as Prague and Budapest.

According to the New York Times, cheap beer is a big draw, with an average price of $1 as compared with $6 in Britain. Assume these two reported averages were obtained from two random samples of 20 establishments in London and in Prague, and that the sample standard deviation in London was $2.5 and in Prague $1.1.

Conduct a test for equality of means using α = 0.05 and provide a 95% confidence interval for the average savings per beer for a visitor versus the amount paid at home in London.

Reference no: EM131381012

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