Researchers at The Wharton School of Business have found that men and women shop for different reasons. While women enjoy the shopping experience, men are on a mission to get the job done. Men do not shop as frequently, but when they do, they make big purchases like expensive electronics. The accompanying table shows a portion of the amount spent over the weekend by 40 men and 60 women at a local mall; the complete data set, labeled Spending_Gender, can be found on the text website. It is reasonable to assume that the population variances are equal.
Spending by Men ($) Spending by Women ($)
: ............. :
At the 1% significance level, use the critical value approach to determine if the mean amount spent by men is more than that by women. Describe your steps clearly.