Mathematics, 30.03.2020 19:25 kaylinreed7
An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 99 Visa Gold cardholders resulted in a mean household income of $56,930$ 56,930 with a standard deviation of $10,700$ 10,700. A random survey of 1414 MasterCard Gold cardholders resulted in a mean household income of $50,790$ 50,790 with a standard deviation of $10,600$ 10,600. Is there enough evidence to support the executive's claim? Let μ1μ1 be the true mean household income for Visa Gold cardholders and μ2μ2 be the true mean household income for MasterCard Gold cardholders. Use a significance level of α=0.01α=0.01 for the test. Assume that the population variances are not equal and that the two populations are normally distributed.
Answers: 1
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An advertising executive claims that there is a difference in the mean household income for credit c...
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