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2. The average expenditure on Valentine's Day was expected to be $100.89. Do male and female consumers differ in the amounts they spend? The
2. The average expenditure on Valentine's Day was expected to be $100.89. Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 40 male consumers was $135.67 and the average expenditure in a sample survey of 40 female consumers was $68.64. Based on past surveys, the population standard deviation for male consumers is assumed to be $35, and the population standard deviation for female consumers is assumed to be $20: Gender Male Female Sample Size Sample Mean 40 $135.67 Population Standard Deviation $35 40 $68.64 $20 Carry out the hypothesis testing for the inquiry. Step 1 (10 points): Formulate the hypotheses. Step 2 (10 points): Identify the appropriate test statistic and its probability distribution. Step 3: a-0.05. Step 4 (10 points): State the decision rule, along with the critical value. Step 5 (10 points): Calculate the test statistic. Step 6 (10 points): Apply the decision rule and draw a conclusion.
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