Youre on the financial planning team for monitoring a high-spending segment of a credit card. You know
Question:
You’re on the financial planning team for monitoring a high-spending segment of a credit card. You know that customers tend to spend more during December before the holidays, but you’re not sure about the pattern of spending in the months after the holidays. Look at the data set ch14_MCSP_Consumer_Spending. It contains the monthly credit card spending of 1200 customers during the months December, January, February, and March. Report on the spending differences between the months. If you’d failed to realize that these are paired data, what difference would that have made in your reported confidence intervals and tests?
Step by Step Answer:
Business Statistics
ISBN: 9780133899122
3rd Canadian Edition
Authors: Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright