A marketing firm is doing research for an internet-based company. It wants to appeal to the age group of people who spend the most money online. The companywants to know if there is a difference in the mean amount of money people spend per morith on Internet purchases depending on their age bracket. The marketingfirm looked at two age groups, 18-24 years and 25-30 years, and collected the data shown in the following table. Let Population 1 be the amount of money spent permonth on internet purchases by people in the 18-24 age bracket and Population 2 be the amount of money spent per month on internet purchases by people in the25-30 age bracket. Assume that the population variances are not the same.Internet Spending per Month18-24 YearsAnswerMean Amount SpentStandard DeviationSample SizeStep 1 of 2: Construct a 99 % confidence interval for the true difference between the mean amounts of money per month that people in these two age groupsspend on Internet purchases. Round the endpoints of the interval to two decimal places, if necessary.Lower Endpoint63.0518.4529Upper Endpoint =25-30 Years60.4013.3424TablesKeypadKeyboard Shortcuts

Confidence interval of the mean of two normal populations

Answered: A marketing firm is doing research for…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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