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Description: A study of compulsive buying behavior conducted a national telephone survey in 2004 of adults aged 18 and over. The total credit card balance had a mean of $3,399 and standard deviation of $5,595 for 100 compulsive buyers and a mean of $2,837 and sta

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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A study of compulsive buying behavior conducted a national telephone survey in 2004 of adults aged 18 and over. The total credit card balance had a mean of $3,399 and standard deviation of $5,595 for 100 compulsive buyers and a mean of $2,837 and standard deviation of $6,335 for 1,682 other respondents.

Question: Compare the population means using a two-sided significance test (state the hypotheses, calculate a test statistic, estimate the p-value, and make a decision about whether there is enough evidence to reject the null hypothesis if alpha=0.05). If you can’t find a precise p-value, come up with the best estimate possible from the distribution table.

Let u1 = the population mean total credit card balance for non-compulsive buyers
Let uz = the population mean total credit card balance for compulsive buyers

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