Luxury goods higher for men than for women, Applied Statistics

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According to a recent study, when shopping online for luxury goods, men spend a mean of $2,401, whereas women spend a mean of $1,527. Suppose that the study was based on a sample of 600 men and 700 females, and the standard deviation of the amount spent was $1,200 for men and $1,000 for women. Is the amount spent shopping online for luxury goods higher for men than for women? Use alpha = .05 (State the Hypothesis Scenario, calculate the test statistics or p - value and state the conclusion)


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