1) The Detroit Redwings wanted to understand their fan’s
souvenir purchase behaviors between cash and credit. They took a
random sample of 200 customers who made a souvenir purchase in the
last 3 months and found that 68% used a credit card with an average
spending of $156 and a standard deviation of $27. The also found
that 32% used cash with an average spending of $112 with a standard
deviation of $45.
What is the mean difference of the credit and cash purchases
made at the souvenir shop? What is the standard error? PLEASE SHOW
YOUR WORK
|
Δ = |
μ1 – μ2 |
|
SE(Ñž1– Ñž2) = |
√ |
s21 |
+ |
s22 |
|
n1 |
n2 |
