Difficult time with this problem, , ,
- From: "web2.0" <rwest.eagle@xxxxxxxxx>
- Date: Sun, 24 Feb 2008 16:25:29 -0800 (PST)
Bank of America's Consumer Spending survey collected data on annual
credit card charges in seven different categories of expenditures:
transportation, groceries, dining out, house-hold expenses, home
furnishings, apparel, and entertainment. Using data from a sample of
42 credit card accounts, assume that each account was used to identify
the annual credit card charges for groceries (population 1), and the
annual credit card charges for dining out (population 2). Using the
difference data, the sample mean was Dbar = $850, and the sample
standard deviation was Sd = $1123.
Formulate the null and alt hyps, to test for no difference between the
pop mean credit charges for groceries and the population mean credit
card charges for dining out.
Use a .05 level of significance. Can you conclude that the population
means differ?
what is the p value?
which category , groceries or dining out, has a higher population mean
annual credit card charge? What is the point estimate of the
difference between the population means? What is the 95% confidence
interval estimate of the difference between the population means?
---------------
The way i'm starting this problem is: T = DBar - U_d divided by S_d /
sqrt(N)
meaning 850-0 / 1123/sqrt(42)
i come out to 850 / (1123/6.4807)
I come out w/ a value of 4.905 as test statistic, but this is wrong.
---- for some reason this problem is plaguing me, any ideas where to
start?
.
- Follow-Ups:
- Re: Difficult time with this problem, , ,
- From: David Winsemius
- Re: Difficult time with this problem, , ,
- Prev by Date: Re: The F(15,15) quantiles to test two size 11 samples, Jack Tomsky?
- Next by Date: Re: The F(15,15) quantiles to test two size 11 samples, Jack Tomsky?
- Previous by thread: Re: Differential Equations Solutions Manual (Zill) ???
- Next by thread: Re: Difficult time with this problem, , ,
- Index(es):
Relevant Pages
|
|
