To answer this question, use the Data Analysis Toolpack in Excel and select "t-Test: Two-Sample Assuming Equal
Variances" from the list of available tools. Conduct a hypothesis test using this tool. Explain your answer (how you decided if men spend more or not) and include the output table.
Some studies have shown that in the United States, men spend more than women buying gifts and cards on Valentine's Day. Suppose a researcher wants to test this hypothesis by randomly sampling men and women with comparable demographic characteristics from various large cities across the United States to be in a study. Each study participant is asked to keep a log beginning 1 month before Valentine's Day and record all purchases made for Valentine's Day during that 1-month period. The resulting data are shown below. Use these data and a 1% level of significance to test to determine if, on average, men actually do spend significantly more than women on Valentine's Day. Assume that such spending is normally distributed in the population and that the population variances are equal.
Make sure you clearly state both the null and the alternative hypotheses in full sentences. Include the output table; then, clearly state the conclusion in the same manner (do not simply say "accept/reject null") and explain how you arrived at this conclusion (based on which metrics).
Make sure you use full sentences for the items below. Do not simply say something like "x1<x2" "or "reject null" without a description and explanation of how you arrived at your conclusion.
Calculated p or t value:
Conclusion (justify using the metrics):
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