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Discuss about the certificate purchase value

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Question: Business and Management Gift cards have become a popular present. Retailers like these cards because they are easier to process than paper gift certificates and more difficult to forge. Customers appreciate the convenience; the cards make great stocking stuffers and are easy to mail. Independent random samples of credit card-type gift certificates from two merchants were obtained, and the purchased value (in dollars) of each was recorded. The summary statistics and known variances are given in the following table.

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Is there any evidence to suggest that the true mean Nordstrom gift-certificate purchased value is different from the true mean Macy's gift-certificate purchase value? Use a = 0.01. Write a Solution Trail for this problem.

Reference no: EM131752947

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