Independent Random Samples Taken on Two University Campuses Revealed the Following

question 17

Short Answer

Independent random samples taken on two university campuses revealed the following information concerning the average amount of money spent on textbooks during the fall semester.
$\begin{array}{lcc}&\text { University A }&\text { University B }\\\text { Sample Size } & 50 & 40 \\\text { Average Purchase } & \$ 260 & \$ 250 \\\text { Standard Deviation } \sigma) & \$ 20 & \$ 23\end{array}$
We want to determine if, on the average, students at University A spent more on textbooks then the students at University B.
a. Compute the test statistic.
b. Compute the p-value.
c. What is your conclusion? Let ? = .05.

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Definitions:

Aggregate Planning

A process in organizations to develop, analyze, and maintain a preliminary, approximate schedule of the overall operations.

Subcontracting

The act of assigning another company the responsibility to complete a portion of the work or services originally undertaken by oneself.

Overtime

Time worked beyond the standard hours set by a company policy or national regulation, often compensated at a higher pay rate.

Stockouts

Occurrences where items are not available for sale or use due to insufficient stock.