Suppose that the managers wished to test whether there is a

Assignment Help Basic Statistics

Reference no: EM13603058

A major retail clothing store is interested in estimating the difference in mean monthly purchases by customers who use the store's in-house credit card versus using a Visa, Mastercard, or one of the other major credit cards. To do this, it has randomly selected a sample of customers who have made one or more purchases with each of the types of credit cards. The following represents the results of the sampling:

	In-House Credit Card	National Credit Card
Sample Size:	86	113
Mean Monthly Purchases:	$45.67	$39.87
Standard Deviation:	$10.90	$12.47

Suppose that the managers wished to test whether there is a statistical difference in the mean monthly purchases by customers using the two types of credit cards, using a significance level of .05, what is the value of the test statistic assuming the standard deviations are known?

z = 11.91
z = 2.86
t = 3.49
z = 3.49

Reference no: EM13603058

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