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.
| 18-24 Years | 2525-3030 Years |
---|---|---|
Mean Amount Spent | 56.27 | 67.38 |
Standard Deviation | 10.71 | 14.92 |
Sample Size | 28 | 23 |
Step2of2: Interpret the confidence interval(17.48,4.74) obtained in Step 1
A.) Since the confidence interval does not contain zero, the data do not provide evidence that the population means are unequal ata90% confidence level.
C.) Since the confidence interval contains zero, the data do not provide evidence that the population means are unequal at a 90% confidence level.
C.) We are 90% confident that the mean amount of money spent on Internet purchases for ages 18-24 years is between $4.74 and $17.48 more than the mean amount of money spent on Internet purchases for ages 25-30 years.
D.) We are 90% confident that the mean amount of money spent on Internet purchases for ages 18-24 years is between $4.74 and $17.48 less than the mean amount of money spent on Internet purchases for ages 25-30 years.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started