HWK 11 - Sig Level Alpha =.05 Calculations 1 Groceries 2...

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Homework #11 Problem #23 on Page 428-429 #23 Business Issue Bank of America Annual credit card charges of 7 categories Business Question Data ANNUAL CREDIT CARD CHARGES FOR: population 1 = groceries Population 2 = dining out Sample Mean difference = 850 850 = +/- 1261129 Samp St.Dev = 1123 n = 42 Analysis Hypotheses Ho: Mu Groceries = Mu Dining Out Ha: Test Stat t = (x-barM - x-barL) / (sM^2/12 + sL^2/10)^.5 if Ho is true, this statistic is t distributed with df we can calculate.
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Unformatted text preview: Sig Level Alpha = .05 Calculations 1) Groceries 2) Dining Out 850 173.28 t = 4.91 DF 41 p-value = Conclusion reject HO Business Answer According to the sample of 42 there is stong evidence to conclue that there is a difference between the mean credit card charges Is there a difference in the mean credit card charges for groceries and din Mu Groceries Mu Dining Out ≠ 30026.88 173.28 ning out for American consumers? If so, what is it?...
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HWK 11 - Sig Level Alpha =.05 Calculations 1 Groceries 2...

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