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7-67 Sadness and spending- The "misery is not miserly" phenomenon refers to a person's spending judgment going haywire when the person is...

7.67 Sadness and spending. The "misery is not miserly" phenomenon refers to a person's spending judgment going haywire when the person is sad. In a study, 31 young adults were given $ 10 and randomly assigned to either a sad or a neutral group. The participants in the sad group watched a video about the death of a boy's mentor (from The Champ), and those in the neutral group watched a video on the Great Barrier Reef. After the video, each participant was offered the chance to trade $ 0.50 increments of the $ 10 for an insulated water bottle. 33 Here are the data:

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Screen Shot 2018-05-04 at 9.39.57 AM.png

7-67 Sadness and spending- The "misery is not miserly" phenomenon refers to a person's spending judgment going haywire when the person is sad.
In a study, 3 1 young adults were given $1 0 and randomly assigned to either a
sad or a neutral group. The participants in the sad group watched a video
about the death of a boy‘s mentor (from The Champ), and those in the neutral
group watched a video on the Great Barrier Reef. After the video, each
participant was offered the chance to trade $0.5 0 increments of the $1 0 for an insulated water bottle.2 Here are the data: m saunas: Group Purchase price ($)
Neutral 0.00 2.00 0.00 1.00 0.50 0.00 0.50
2.00 1.00 0.00 0.00 0.00 0.00 1.00 Sad 3.00 4.00 0.50 1.00 2.50 2.00 1.50 0.00 1.00
1.50 1.50 2.50 4.00 3.00 3.50 1.00 3.50 (a) Examine each group's prices graphically. Is use of the t procedures
appropriate for these data? Carefully explain your answer. (b) Make a table with the sample size, mean, and stande deviation for each
of the two groups. (c) State appropriate null and alternative hypotheses for comparing these
two groups. (d)Perform the significance test at the a=0.05 level, making sure to report the
test statistic, degrees of freedom, and P-value. What is your conclusion? (e) Construct a 9 5 % confidence interval for the mean difference in purchase
price between the two groups.

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