A recent study focused on the amount of money single men and women save monthly. The information is summarized here. Assume that the population standard deviations are equal. Sample Size Sample Mean Sample Standard Deviation Men 25 23 5 Women 30 28 10 At the 0.01 significance level, do women save more money than men? What is the test statistic for this hypothesis?

Question

Mathematics

Yukon

12 October, 00:29

A recent study focused on the amount of money single men and women save monthly. The information is summarized here. Assume that the population standard deviations are equal. Sample Size Sample Mean Sample Standard Deviation Men 25 23 5 Women 30 28 10 At the 0.01 significance level, do women save more money than men? What is the test statistic for this hypothesis?

+2

Answers (1)

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Morgan Bond · Answer 1

Apply Z statistic value is + 2.40

Step-by-step explanation:

Men:

sample size = 25

sample means = 23

standard derivation = 5

Women

sample size = 30

sample means = 28

standard derivation = 10

At 0.01 significance level Apply Z statistic on this

then our null hypothesis if fail to reject.

2.369 is the critical value for hypothesis test