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Assume that the statistical output below was all the information that you were given. Account status N Mean Std. Deviation Std. Error Mean Annual

 

Assume that the statistical output below was all the information that you were given. Account status N Mean Std. Deviation Std. Error Mean Annual Spending Loyalty program customer 40 5305.6750 4268.98035 674.98506 Non-Loyalty program customer 49 3344.8776 3122.87465 446.12495 t-test for Equality of Means t df Sig. (2-tailed) Mean Difference Std. Error Difference 95% Confidence Interval of the Difference Annual Spending Equal variances not assumed 2.423 69.708 .018 1960.797 809.093 346.992 3574.602 1. What statistical test was used to generate this output? 2. Interpret the statistical output. 3. Why would a credit manager be interested in the results?

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