Question
A marketing firm is doing research for an Internet-based company. It wants to appeal to the age group of people who spend the most money
A marketing firm is doing research for an Internet-based company. It wants to appeal to the age group of people who spend the most money online. The company wants to know if there is a difference in the mean amount of money people spend per month on Internet purchases depending on their age bracket. The marketing firm looked at two age groups, 18-24 years and 25-30 years, and collected the data shown in the following table.Let Population 1 be the amount of money spent per month on Internet purchases by people in the 18-24 age bracket and Population 2bethe amount of money spent per month on Internet purchases by people in the 25-30 age bracket.Assume that the population variances are not the same.
1818-2424 Years | 2525-3030 Years | |
---|---|---|
Mean Amount Spent | 56.81 | 43.19 |
Standard Deviation | 16.95 | 12.83 |
Sample Size | 23 | 19 |
Step 1 of 2:
Construct a 95% confidence interval for the true difference between the mean amounts of money per month that people in these two age groups spend on Internet purchases. Round the endpoints of the interval to two decimal places, if necessary.
Step 2 of 2: Interpret the confidence interval(3.96,23.28)(3.96,23.28) obtained in Step 1.
A) We are 95% confident that the mean amoutn of money spent on the internet purchases for ages 18-24 years is between $3.96 and $23.28 more than the mean mount of money soent on internet purchases for ages 25-30 years.
B) Since teh confidence interval contain zero, the data do not provide evidence that the population means are nequal at a 95% confidence level.
C) We are 95% confident that the mean amoutn of money spent on internet purchases for ages 18-24 years is between $3.96 and 23.28 less than the mean amoutn of money spent on internet purchases for age 25-30 years.
D) Since the confidence interval does not contain zero. the data do not provide evidence that the population means are unequal at a 95% confidence level.
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