Question: Who Spends More? According to a recent study, when shopping online for luxury goods, men spend a mean of $2,401 as compared to women who
Who Spends More? According to a recent study, when shopping online for luxury goods, men spend a mean of $2,401 as compared to women who spend a mean of $1,527. Suppose that the study on a sample of 600 men and 700 women and the sample standard deviation of the amount spent was $1,200 for men and $1,000 for women. At the 0.01 level of significance, is there evidence that the mean amount spent is lower for women than for men? (Assume that population variances are unknowen but equal)
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