Statistical and management conclusion

Assignment Help Basic Statistics

Reference no: EM13990441

The do-it-yourself (DIY) consumer movement has had a profound impact on the retailing business. A recent study conducted by the Centre for Consumer Research examined various traits of persons classified as 'do-it-yourselfers' and 'non-do-it- yourselfers'. One factor considered was a person's age. Because younger people are generally healthier but less affluent, it is reasonable to expect do-it-yourselfers to be younger. The ages (in years) of the people in the two groups from the study are summarised as follows:

	DIY consumers	Non-DIY consumers
Sample mean (years)	41.8	47.4
Standard deviation	15.9	16.2
Sample size	29	34

Does the data support the hypothesis that do-it-yourselfers are younger, on average, than non-do-it-yourselfers?

(a) Define the two populations and then formulate the appropriate null and alternative hypothesis for the test.

(b) Conduct a hypothesis test at the 10% level of significance to test the null hypothesis.

(d) Will the conclusion differ if the hypothesis test was conducted at the 5% level of significance? Justify your answer statistically.

Reference no: EM13990441

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