Answered: marketing firm is doing research for an…

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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Question

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 company wants to know if there is a difference in the mean amount of money people spend per month on Internet purchases depending on their age bracket. The marketing firm looked at two age groups, 1818-2424 years and 2525-3030 years, and collected the data shown in the following table. Let Population 1 be the amount of money spent per month on Internet purchases by people in the 1818-2424 age bracket and Population 2 be the amount of money spent per month on Internet purchases by people in the 2525-3030 age bracket. Assume that the population variances are not the same.

Internet Spending per Month

	1818-2424 Years	2525-3030 Years
Mean Amount Spent	50.40	65.33
Standard Deviation	15.85	20.76
Sample Size	17	27

Step 1 of 2 :

Construct an 80%80% confidence interval for the true difference between the mean amounts of money per month that people in these two age groups spend on Internet purchases. Round the endpoints of the interval to two decimal places, if necessary.

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