The Cranston Hardware Company Is Interested in Estimating the Difference

question 34

True/False

The Cranston Hardware Company is interested in estimating the difference in the mean purchase for men customers versus women customers. It wishes to estimate this difference using a 95 percent confidence level. If the sample size is n = 10 from each population, the samples are independent, and sample standard deviations are used, and the variances are assumed equal, then the critical value will be t = 2.1009.

---

Definitions:

Critical Value

A point on the distribution of a statistical test that marks the threshold for rejecting the null hypothesis.

P-value

The probability of observing results at least as extreme as those in the data, assuming the null hypothesis is true.

Level of Significance

The threshold below which a null hypothesis is rejected in a statistical test, usually expressed as a probability.

Heating Bills

Monthly or seasonal charges incurred for consuming energy to heat a residential or commercial space.