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.
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.
Definitions:
Provisionally Credits
Temporarily recorded credits in an account that are subject to confirmation.
Payment Final
The conclusive settlement of a debt or obligation, which prevents any future claims or demands for payment.
Business Day
A standard day for conducting business, typically Monday through Friday, excluding public holidays.
Payment Order
An instruction by a customer to its bank to pay a specific amount of money to a designated recipient, key in facilitating international trade and finance.
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