Question
Q-Mart is interested in comparing customer who used its own charge card with those who use other types of credit cards. Q-Mart would like to
Q-Mart is interested in comparing customer who used its own charge card with those who use other types of credit cards. Q-Mart would like to know if customers who use the Q-Mart card spend more money per visit, on average, than customers who use some other type of credit card. They have collected information on a random sample of 38 charge customers as shown below. On average, the person using a Q-Mart card spends $192.81 per visit and customers using another type of card spend $104.47 per visit.
Summary statistics for two samples |
| |
| Q-Mart | Other Charges |
Sample sizes | 13 | 25 |
Sample means | 192.81 | 104.47 |
Sample standard deviations | 115.243 | 71.139 |
Confidence interval for difference between means
| ||
Sample mean difference | 88.34 | |
Pooled standard deviation | 88.323 | |
Std error of difference | 30.201 |
Using a t - value of 2.0281, the lower limit of a 95% confidence interval for the difference between the average Q-Mart charge and the average charge on another type of credit card is
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