Question bank of americaamp39s consumer spending survey, Ask an Expert

Management Studies

Question: Bank of America's Consumer Spending Survey collected data on annual credit card charges in seven different categories of expenditures: transportation. groceries, dining out. household expenses. home furnishings, apparel, and entertainment (US Airways Attaché. December 2003). Using data from a sample of 42 credit card accounts, assume that each account was used to identify the annual credit card charges for groceries (population 1) and the annual credit card charges for dining out (population 2). Using the difference data. the sample mean difference was = S850„ and the sample standard deviation was Sd = $1123.

a. Formulate the null and alternative hypotheses to test for no difference between the population mean credit card charges for groceries and the population mean credit card charges for dining out.

b. Use a .05 level of significance. Can you conclude that the population means differ? What is the p-value?

c. Which category. groceries or dining out. has a higher population mean annual credit card charge? What is the point estimate of the difference between the population means? What is the 95% confidence interval estimate of the difference between the population means?

View complete question

Management Theories, Management Studies

Category:- Management Theories
Reference No.:- M92265408

Have any Question?Write your Review or question?

Related Questions in Management Theories

Healthcare information technology overview the current

Healthcare Information Technology Overview: The current healthcare industry utilizes a plethora of healthcare information technology (HIT) systems. HIT systems are designed to enhance quality outcomes, prevent adverse ev ...

Discussion assignment -the overall design and costs of an

Discussion Assignment - The overall design and costs of an organization's benefits plans are an important part of their people strategy for attracting and retaining a talented workforce. For example, health care costs ar ...

Archetypes in actionsenge ross smith roberts amp kleiner

Archetypes in Action Senge, Ross, Smith, Roberts, & Kleiner (1994) noted: At its broadest level, systems thinking encompasses a large and fairly amorphous body of methods, tools, and principles, all oriented to looking a ...

Question why do you think the worlds largest theme park

Question : Why do you think the world's largest theme park operator, the Walt Disney Co., was motivated to establish parks in Tokyo, Paris, and Hong Kong? What particular market characteristics of each of those sites wer ...

Questionthere is no consensus on a definition of complex

Question: There is no consensus on a definition of complex systems or complex adaptive systems. Both terms are frequently used interchangeably within the literature. Rather, it is much easier to look at the characteristi ...

Developing leaders and organisations assessment - report on

Developing, Leaders and Organisations Assessment - Report on Promoting Individual Informal Workplace Learning Brief - You are the newly-appointed Human Resource Advisor in a medium-sized business that employs approximate ...

Seek out at least three individuals within your sphere of

Seek out at least three individuals within your sphere of influence and ask the following: What does workplace stress feel like to you? What activities or actions do you or your organization initiate to reduce workplace ...

Identify how protecting sovereign boundaries in regards to

Identify how protecting sovereign boundaries in regards to intellectual property has a positive effect on the GDP . Your answer should be in complete sentences

Identify three reasons that a project can fail explore each

Identify three reasons that a project can fail, explore each of the reasons, propose a solution that will eliminate the problem and turn the initiative into a success. Use a minimum of two peer reviewed sources. The work ...

Assignmentlearning outcome recognize the impact of

Assignment Learning Outcome: Recognize the impact of organizational culture on shaping values, attitudes and behavior. Case Study: Foundations of Individual Behavior Differing Perceptions at Clarkston Industries Susan Ha ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Management Theories Expert