Question

these are the means and standard deviations for samples of prices from two different brands of shoes. select the two true statements. a. brand a has a lower average price than brand b. b. brand a has a higher average price than brand b. c. brand as prices are more spread out than brand bs prices. d. brand as prices are less spread out than brand bs prices.

Explanation:

Step1: Compare the means

Mean of Brand A is \( \$50 \), mean of Brand B is \( \$40 \). Since \( 50>40 \), Brand A has a higher average price than Brand B.

Step2: Compare the standard deviations

Standard deviation of Brand A is \( \$5 \), standard deviation of Brand B is \( \$8 \). A smaller standard deviation means less spread - out data. Since \( 5 < 8 \), Brand A's prices are less spread out than Brand B's prices.

Answer:

B. Brand A has a higher average price than brand B.
D. Brand A's prices are less spread out than brand B's prices.