***Evaluating Generational Differences in Coupon Savings: A Statistical Analysis*****Introduction**It is often claimed that the baby boomer generation is thriftier than millennials, particularly in terms of saving money with coupons. To examine this claim, a study was conducted where 17 millennials and 12 baby boomers tracked their monthly coupon savings at the grocery store.**Study Details**At the end of the study period, the data revealed the following:- **Millennials:** - Mean savings: $18.09 - Standard deviation: $3.48- **Baby Boomers:** - Mean savings: $26.97 - Standard deviation: $14.60**Hypothesis Testing**An appropriate hypothesis test was performed to determine if there is a significant difference in the mean savings of millennials and baby boomers. The null hypothesis (H0) stated that the true mean savings for both groups are equal, against the alternative hypothesis (H1) that they are different.**Results**The test statistic and p-value obtained from the hypothesis test are provided in the options below:1. Test statistic = -2.066; p-value = 0.0312. Test statistic = 2.066; p-value = 0.0613. Test statistic = -2.066; p-value = 0.9394. Test statistic = 2.066; p-value = 0.969Considering these options, the correct test statistic and p-value need to be selected based on the context of the study.**Conclusion**This statistical analysis aims to provide clarity on whether baby boomers indeed save more money with coupons compared to millennials. Understanding such generational spending behavior can offer valuable insights into consumer habits and economic trends.

According to the given information in this questionWe need to find test and p value

Answered: Your mother claims that the baby boomer…

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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