Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Vector Mechanics for Engineers Statics and Dynamics

Authors: Ferdinand Beer, E. Russell Johnston Jr., David Mazurek, Phillip Cornwell, Brian Self

11th edition

73398241, 978-0073398242

More Books

Students also viewed these Mathematics questions