Question

Q Search this courseNilam Assignment (C10: Asgmt) eBook Bank of America's Consumer Spending Survey collected data on annual credit card charges in seven different categornes of expenditures: transportation, groceries, dining out, household expenses, home O 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 difference was d a. Formulate Ho:p is squ to o H, : p is not equal to o b. Use α-.05 level of significance. Can you conclude that the population means differ? $850, and the sample standard devation was 4 $1123. the null and alternative hypotheses to test for no difference between the population mean credit card charges for groceries and the population mean credit card charges for dining out What is the p-value? (to 6 decimals) c. Which category, groceries or dining out, has s higher population mean annual credit card charge? What is the point estimate of the difference between the population means? Round to the nearest whole number 850 what is the 95% confidence interval estimate of the difference between the pogutation means? Round to rte nearer who (ni, na)- enter 100 llide Feedback Partially Correet Check My Work pe here to search

Answer 1

The 95% confidence interval of the estimate of the doffdiffer between the two population means is ( $500 , $1200)