The recommendations of respected wine critics have a substantial effect on the price of wine
The recommendations of respected wine critics have a substantial effect on the price of wine. Vintages that earn higher ratings command higher prices and spark surges in demand. These data are a random sample of ratings of wines selected from an online Web site from the 2000 and 2001 vintages. a. Do the ratings meet the conditions needed for a two-sample confidence interval? b. Find the 95% confidence interval for the difference in average ratings in these two vintages. Does one of the years look better than the other? c. Suggest one or two possible sources of confounding that might distort the confidence interval reported in part (b). d. Round the endpoints of the interval as needed for presenting it as part of a message. e. Given a choice between a 2000 and 2001 vintage at the same price, which produces higher ratings? Does it matter? Rating 91 91 91 90 91 94 95 89 88 92 90 91 91 95 91 90 91 93 91 90 89 90 91 92 94 93 Price Vintage 130 2000 30 2000 45 2001 9 2000 33 2001 117 2000 125 2001 19 2001 17 2000 33 2000 15 2001 36 2000 85 2001 72 2000 23 2001 40 2000 45 2000 50 2000 50 2000 29 2001 40 2000 42 2001 50 2001 50 2001 80 2000 23 2001
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