Marketing firm asked a random set of married and single men how much they were willing to spend on a vacation. at α = 0.05, we wish to test whether there is a difference in the two amounts. what is the p-value of this test? round your answer to 3 significant places after the decimal. (for example, 0.0678 has to be entered as 0.068) married men single men sample size 60 60 sample mean $880 $845 population variance 5200 7100

The P-value is 0.016.

Step-by-step explanation:

Given information:

Significance level, α = 0.05

                            Married men         Single men

Sample size               60                            60

Sample mean          $880                        $845

Population variance  5200                       7100

We need to test whether there is a difference in the two amounts.

Null hypothesis:

Alternative hypothesis:

The formula for t-statistics is

Degree of freedom is

The P-value for at significance level α = 0.05, wih degree of freedom 119 is 0.016174. Approximately it can be written as 0.016.

Therefore the P-value is 0.016.

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