Do men really spend more money on St. Patrick's Day as compared to women? A recent survey found that men spend an average of $43.87 while women spend an average of $29.54. Assume that these data were based on a sample of 100 men and 100 women and the population standard deviations of spending for men and women are $32 and $25, respectively. Using 1% confidence level, which of the following is the correct conclusion for this test? A) Reject H₀: µ₁ − µ₂ ≤ 0 and therefore do not conclude that on average men spend more money than women on St. Patrick's Day. B) Do not reject H₀: µ₁ − µ₂ ≤ 0 and therefore conclude that on average men spend more money than women on St. Patrick's Day. C) Reject H₀: µ₁ − µ₂ ≤ 0 and therefore conclude that on average men spend more money than women on St. Patrick's Day. D) Do not reject H₀: µ₁ − µ₂ ≤ 0 and therefore do not conclude that on average men spend more money than women on St. Patrick's Day.

Question

Quizplus · Accepted Answer

The correct conclusion is to reject the null hypothesis that the mean spending of men minus the mean spending of women is less than or equal to zero. This is because the sample data shows a significant difference in spending, with men spending more on average than women. The rejection of this null hypothesis at a 1% confidence level suggests that there is a statistically significant difference in spending, supporting the conclusion that men spend more on average than women on St. Patrick's Day.

Do Men Really Spend More Money on St