Mathematics, 28.03.2020 04:21 gilberta14
A major retail clothing store is interested in estimating the difference in mean monthly purchases by customers who use the store's in-house credit card versus using a Visa, Mastercard, or one of the other national credit cards. To do this, it has randomly selected a sample of customers who have made one or more purchases with each of the types of credit cards. The following represents the results of the sampling:In-House Credit CardNational Credit CardSample Size:3250Mean Monthly Purchases:$45.67$39.87Standard Deviation:$10.90$12.47Suppose that the managers wished to test whether there is a statistical difference in the mean monthly purchases by customers using the two types of credit cards, using a significance level α of 0.05, what is the critical value assuming the population standard deviations are not known but that the populations are normally distributed with equal variances?A. t = 3.49B. z = 1.645C. z = 1.96D. t = 1.9901
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A major retail clothing store is interested in estimating the difference in mean monthly purchases b...
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