NARRBEGIN: Clothing Expenditures
Clothing Expenditures
a Marketing Consultant Was in the Process

question 92

Essay

NARRBEGIN: Clothing Expenditures
Clothing Expenditures
A marketing consultant was in the process of studying the perceptions of married couples concerning their monthly clothing expenditures. He believed that the husband's perception would be higher than the wife's. To judge his belief, he takes a random sample of ten married couples and asks each spouse to estimate the family clothing expenditure (in dollars) during the previous month. The data are shown below. $$\begin{array} { | c | c c| } \hline \text { Couple } & \text { Husband } & \text { Wife } \\\hline 1 & 380 & 270 \\2 & 280 & 300 \\3 & 215 & 185 \\4 & 350 & 320 \\5 & 210 & 180 \\6 & 410 & 390 \\7 & 250 & 250 \\8 & 360 & 320 \\9 & 180 & 170 \\10 & 400 & 330 \\\hline\end{array}$$ NARREND
-A behaviorist has performed the following experiment. For each of 10 sets of identical twins who were born 30 years ago, he recorded their annual incomes, according to which twin was born first. The results (in $1,000s) are shown below. Can he infer at 5% significance level that there is a difference in income between the twins?
$$\begin{array} { | c | c | c | } \hline \text { Twin Set } & \text { First Born } & \text { Second Born } \\\hline 1 & 32 & 44 \\2 & 36 & 43 \\3 & 21 & 28 \\4 & 30 & 39 \\5 & 49 & 51 \\6 & 27 & 25 \\7 & 39 & 32 \\8 & 38 & 42 \\9 & 56 & 64 \\10 & 44 & 44 \\\hline\end{array}$$

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Definitions:

Equity Investments

Financial investments in stocks that represent ownership in a company or corporation.

Stock Market

A marketplace where stocks, bonds, and other securities are bought and sold, facilitating capital raising for companies and investment opportunities for individuals.

Expected Return

Return that an asset should earn on average.

Consumer Decision Making

The process by which consumers identify their needs, gather information, evaluate alternatives, and make choices regarding products and services.