Interpret the p-value for the test

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Reference no: EM13975035

According to the U.S. Bureau of Labor Statistics, personal expenditures for entertainment fees and admissions averaged $349 per person in the Northeast and $420 in the West. Assuming that these data involved (1) sample sizes of 800 and 600 and (2) standard devia- tions of $215 and $325, respectively, use a z-test and the 0.01 level of significance in testing the difference between these means. Determine and interpret the p-value for the test. Construct and interpret the 99% confidence interval for the test.

Source: U.S. Bureau of Labor Statistics, Consumer Expenditure Survey, Interview Survey, annual.

Reference no: EM13975035

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