Question

An advertising executive claims that there is a difference in the mean household income for credit...

An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 18 Visa Gold cardholders resulted in a mean household income of $84,280 with a standard deviation of $10,400. A random survey of 11 MasterCard Gold cardholders resulted in a mean household income of $79,360 with a standard deviation of $9800. Is there enough evidence to support the executive's claim? Let μ1 be the true mean household income for Visa Gold cardholders and μ2 be the true mean household income for MasterCard Gold cardholders. Use a significance level of α=0.01 for the test. Assume that the population variances are not equal and that the two populations are normally distributed.

Step 1 of 4: State the null and alternative hypotheses for the test.

Step 2 of 4: Compute the value of the t test statistic. Round your answer to three decimal places.

Step 3 of 4: Determine the decision rule for rejecting the null hypothesis H0 Round your answer to three decimal places.

Step 4 of 4: Reject Null Hypothesis Fail to Reject Null Hypothesis

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
An advertising executive claims that there is a difference in the mean household income for credit...
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 5 Visa Gold cardholders resulted in a mean household income of $84,280 with a standard deviation of $10,400 . A random survey of 11 MasterCard Gold cardholders resulted in a mean household income of $79,360 with a standard deviation of $9800 . Is there enough evidence to support the executive's claim? Let...
An advertising executive claims that there is a difference in the mean household income for credit...
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 13 Visa Gold cardholders resulted in a mean household income of $68,600 with a standard deviation of $9200. A random survey of 8 MasterCard Gold cardholders resulted in a mean household income of $59,620 with a standard deviation of $10,900. Is there enough evidence to support the executive's claim? Let μ1 be...
An advertising executive claims that there is a difference in the mean household income for credit...
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 17 Visa Gold cardholders resulted in a mean household income of $⁢58,390 with a standard deviation of $⁢8500. A random survey of 11 MasterCard Gold cardholders resulted in a mean household income of $⁢54,320 with a standard deviation of $⁢10,500. Is there enough evidence to support the executive's claim? Let μ1 be...
An advertising executive claims that there is a difference in the mean household income for credit...
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 19 Visa Gold cardholders resulted in a mean household income of $81,460 with a standard deviation of $10,800. A random survey of 9 MasterCard Gold cardholders resulted in a mean household income of $69,700 with a standard deviation of $8300. Is there enough evidence to support the executive's claim? Let μ1 be...
An advertising executive claims that there is a difference in the mean household income for credit...
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 1818 Visa Gold cardholders resulted in a mean household income of $⁢58,470 with a standard deviation of $⁢11,800. A random survey of 8 MasterCard Gold cardholders resulted in a mean household income of $⁢50,190 with a standard deviation of $⁢11,300. Is there enough evidence to support the executive's claim? Let μ1 be...
An advertising executive claims that there is a difference in the mean household income for credit...
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 11 Visa Gold cardholders resulted in a mean household income of $60,150 with a standard deviation of $10,300. A random survey of 18 MasterCard Gold cardholders resulted in a mean household income of $49,050 with a standard deviation of $9600. Is there enough evidence to support the executive's claim? Let μ1 be...
An advertising executive claims that there is a difference in the mean household income for credit...
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 17 Visa Gold cardholders resulted in a mean household income of $71,420 with a standard deviation of $9400 . A random survey of 9 9 MasterCard Gold cardholders resulted in a mean household income of $64,320 with a standard deviation of $9200. Is there enough evidence to support the executive's claim? Let...
An advertising executive claims that there is a difference in the mean household income for credit...
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 9 Visa Gold cardholders resulted in a mean household income of $51,270 with a standard deviation of $11,300. A random survey of 17 MasterCard Gold cardholders resulted in a mean household income of $45,060 with a standard deviation of $8200. Is there enough evidence to support the executive's claim? Let μ1 be...
An advertising executive claims that the mean household income for credit card holders of Visa Gold...
An advertising executive claims that the mean household income for credit card holders of Visa Gold is less than that of MasterCard Gold. The results of a random survey of 100 customers from each group are shown below. Do the results support the​ executive's claim? Use alphaα ​= 0.05. Visa Gold​ - Sample 1 MasterCard Gold​ - Sample 2 x overbar 1x1 ​= $60,900 x overbar 2x2 ​= $64,300 s 1s1 ​= $12,000 s 2s2 ​= $15,000 n 1n1 ​=...
A manufacturer claims that the calling range (in feet) of its 900-MHz cordless telephone is greater...
A manufacturer claims that the calling range (in feet) of its 900-MHz cordless telephone is greater than that of its leading competitor. A sample of 19 phones from the manufacturer had a mean range of 1160 feet with a standard deviation of 32 feet. A sample of 11 similar phones from its competitor had a mean range of 1130 feet with a standard deviation of 23 feet. Do the results support the manufacturer's claim? Let μ1 be the true mean...