A recent study focused on the amount of money single men and women save monthly. The information is summarized next. Assume that the population standard deviations are equal. At the .01 significance level, do women save more money than men? What is the test statistic for this hypothesis?
A) z-statistic
B) t-statistic
C) p-statistic
D) df-statistic

Question

A recent study focused on the amount of money single men and women save monthly. The information is summarized next. Assume that the population standard deviations are equal.  At the .01 significance level, do women save more money than men? What is the test statistic for this hypothesis?
A) z-statistic 
B) t-statistic 
C) p-statistic 
D) df-statistic

Quizplus · Accepted Answer

Since the sample size is less than 30 and the population standard deviation is unknown, the best choice for hypothesis testing is a t-test. Therefore, the answer is option B.

A Recent Study Focused on the Amount of Money Single