Please solve this problem.. Question 2 – Consumer Spending Patterns You are on t
ID: 3173278 • Letter: P
Question
Please solve this problem..
Question 2 – Consumer Spending Patterns
You are on the financial planning team for monitoring a high-spending segment of a credit card. You
know that customers tend to spend more during December before the holidays, but you’re not sure
about the pattern of spending in the months after the holidays. The dataset Spending has the monthly
credit card spending of 200 customers during the months December, January, February and March, and
the average across January to March.
a) Carry out a hypothesis test to compare December with the average spending over the three
following months (variable JantoMarAvg) to confirm the belief that customers spend more on
average in December. Use a 5% level of significance.
b) Construct a 95% one-sided confidence interval to supplement the hypothesis test you carried out in
part a). Do the confidence interval confirm your previous conclusion?
Spreadsheet below..
December
January
February
March
JantoMarAvg
1
185.86
49.09
35.00
0.61
28.23
2
2380.32
979.05
2244.96
1227.30
1483.77
3
12.06
6.03
4.46
573.86
194.78
4
59.70
86.19
52.41
103.07
80.56
5
506.92
399.27
1206.95
451.93
686.05
6
439.30
517.52
715.69
547.53
593.58
7
2065.13
543.77
1107.40
1071.37
907.51
8
570.19
804.17
639.43
971.52
805.04
9
682.33
365.10
263.15
800.72
476.32
10
148.17
154.79
144.99
141.53
147.10
11
23.90
147.85
123.96
808.33
360.05
12
14.95
41.97
2351.51
9.95
801.14
13
942.80
896.44
596.42
91.92
528.26
14
1407.52
716.13
328.94
211.04
418.70
15
27.85
105.76
46.79
-67.30
28.42
16
1265.77
1128.82
765.81
1489.83
1128.15
17
22.07
39.83
21.80
-13.78
15.95
18
2177.82
1763.56
2280.02
2049.17
2030.92
19
817.54
154.92
447.78
1062.71
555.14
20
771.69
1076.04
630.48
123.62
610.05
21
263.68
502.98
484.33
329.21
438.84
22
30.33
28.50
75.63
81.63
61.92
23
138.36
50.18
-22.92
22.92
16.73
24
24.26
25.25
23.61
22.94
23.93
25
665.16
383.36
1637.08
691.52
903.99
26
931.69
936.09
1249.41
413.41
866.30
27
384.34
53.61
666.08
172.13
297.27
28
504.35
121.05
106.60
463.54
230.40
29
2071.75
599.39
2156.12
1334.55
1363.35
30
52.39
165.73
52.19
88.28
102.07
31
1375.89
218.00
1790.65
665.46
891.37
32
224.80
372.28
728.11
393.74
498.04
33
419.83
382.93
1279.89
1105.67
922.83
34
1576.21
1212.48
1454.98
1362.89
1343.45
35
24.12
24.18
17.55
11.60
17.78
36
1235.24
1508.30
369.99
631.62
836.64
37
782.39
37.20
67.69
162.32
89.07
38
781.76
115.13
1584.15
258.27
652.52
39
648.29
1270.84
684.88
642.36
866.03
40
133.41
152.14
130.36
1072.54
451.68
41
318.43
170.00
0.00
777.45
315.82
42
498.36
441.58
458.65
421.49
440.57
43
112.41
24.95
24.95
24.95
24.95
44
362.88
346.08
176.00
173.15
231.74
45
211.54
220.23
799.67
274.06
431.32
46
779.75
585.59
713.50
1748.71
1015.93
47
869.07
506.77
1286.19
1589.14
1127.37
48
73.68
72.98
67.22
150.78
96.99
49
510.28
1604.91
1109.39
1069.68
1261.33
50
2060.42
731.55
1649.95
161.72
847.74
51
1624.05
2166.33
1152.78
809.09
1376.07
52
290.62
212.69
295.05
216.01
241.25
53
917.68
2315.59
264.53
998.16
1192.76
54
839.65
225.58
187.53
161.42
191.51
55
112.59
118.34
112.03
107.79
112.72
56
905.48
505.02
2103.28
-159.26
816.35
57
962.04
578.91
739.99
1995.77
1104.89
58
2000.00
4.98
219.80
267.88
164.22
59
146.84
153.37
278.55
141.96
191.29
60
24.95
24.95
24.95
40.53
30.14
61
632.31
337.23
254.96
754.31
448.83
62
1264.26
1820.75
78.27
623.69
840.90
63
23.32
1124.65
71.45
29.40
408.50
64
276.19
376.48
834.20
1384.50
865.06
65
542.50
122.48
121.48
22.18
88.71
66
3.73
93.09
2.80
2.24
32.71
67
661.98
691.42
1376.03
694.27
920.57
68
1780.15
278.22
446.14
2230.34
984.90
69
1774.83
1464.87
781.77
280.49
842.38
70
516.08
440.10
44.88
347.90
277.63
71
2190.39
251.84
78.66
140.79
157.10
72
172.55
18.34
940.78
943.46
634.19
73
438.05
502.87
2382.89
1409.83
1431.86
74
653.96
1589.35
624.34
555.53
923.07
75
1810.06
777.50
1373.01
1133.04
1094.52
76
541.68
1937.48
205.26
385.70
842.81
77
351.61
131.70
80.50
603.42
271.87
78
1124.59
1643.65
396.94
931.09
990.56
79
3.61
277.96
4.82
-1.60
93.73
80
1284.97
755.29
405.82
285.17
482.09
81
395.93
856.51
350.38
1049.28
752.06
82
1348.21
1136.15
1150.81
1301.79
1196.25
83
1267.39
247.47
526.03
611.83
461.78
84
22.85
23.08
21.28
20.26
21.54
85
915.21
466.34
1996.19
1881.83
1448.12
86
1309.15
1343.83
920.13
2234.26
1499.41
87
336.21
28.94
85.08
33.26
49.09
88
261.45
255.00
2366.96
206.15
942.70
89
1341.52
1475.53
1694.22
2046.15
1738.63
90
129.63
202.25
325.16
288.70
272.04
91
1053.95
666.96
679.84
649.92
665.57
92
1065.46
220.44
61.87
1019.95
434.09
93
13.53
1416.16
77.83
20.99
504.99
94
2266.00
1019.89
1212.15
1132.48
1121.51
95
1599.52
825.52
903.41
119.02
615.98
96
79.33
83.23
78.37
76.84
79.48
97
1998.83
971.45
2060.79
2003.99
1678.74
98
1809.25
1586.42
1844.93
1891.23
1774.19
99
95.78
60.77
105.26
98.71
88.25
100
275.81
819.92
703.44
1076.11
866.49
101
7.30
7.39
6.72
6.31
6.81
102
469.64
324.19
1621.98
428.08
791.42
103
180.00
39.30
-76.77
77.91
13.48
104
1544.75
20.47
18.98
73.34
37.60
105
1771.73
1073.28
1128.06
913.60
1038.31
106
1891.99
1421.58
1229.93
1403.80
1351.77
107
72.63
495.42
46.85
69.88
204.05
108
632.15
400.23
140.10
416.56
318.96
109
241.11
635.65
252.78
73.18
320.54
110
2167.28
804.05
1002.34
825.94
877.44
111
543.64
1188.16
1877.32
1064.87
1376.78
112
2219.47
873.04
901.81
1110.84
961.90
113
127.57
388.00
116.67
128.44
211.04
114
263.57
275.02
255.71
333.57
288.10
115
693.84
662.07
498.97
1086.71
749.25
116
295.49
854.22
289.60
274.34
472.72
117
2219.78
2154.57
1797.52
1244.75
1732.28
118
930.89
988.87
1030.28
764.54
927.90
119
401.85
146.48
111.86
145.80
134.71
120
405.67
111.92
179.80
411.02
234.25
121
474.60
157.87
88.78
103.70
116.78
122
759.69
-165.35
1177.79
0.00
337.48
123
9.37
39.24
7.33
6.99
17.85
124
149.48
196.91
819.22
117.43
377.85
125
0.00
125.15
7.72
7.59
46.82
126
23.93
73.25
233.86
410.28
239.13
127
2385.46
2313.73
693.79
643.92
1217.15
128
245.77
294.42
241.43
261.82
265.89
129
132.36
59.85
53.57
58.60
57.34
130
190.64
812.32
1007.11
82.03
633.82
131
417.99
114.88
442.92
180.24
246.01
132
78.85
459.89
78.85
95.76
211.50
133
86.02
1601.08
1793.17
0.00
1131.42
134
311.05
918.44
138.44
222.58
426.49
135
1002.19
920.83
407.05
2407.59
1245.16
136
1698.55
900.26
1112.42
999.65
1004.11
137
440.32
439.22
379.50
445.23
421.32
138
451.18
440.00
1087.10
40.24
522.45
139
2005.89
924.46
69.88
794.21
596.18
140
1800.51
467.47
641.37
435.54
514.79
141
404.69
414.92
269.45
759.02
481.13
142
574.12
23.37
568.72
173.76
255.28
143
172.07
1071.14
523.43
363.31
652.63
144
501.49
502.06
108.33
83.13
231.17
145
139.22
427.06
362.84
387.90
392.60
146
404.04
0.00
1076.93
1101.72
726.22
147
67.09
401.67
99.21
66.98
189.29
148
73.92
102.48
173.51
339.81
205.27
149
21.20
20.97
19.75
19.98
20.23
150
77.13
83.91
111.98
72.18
89.36
151
359.93
13.98
14.88
14.09
14.32
152
2040.32
794.24
821.76
157.47
591.16
153
1713.25
1967.98
402.11
1259.72
1209.94
154
1862.20
1842.59
1483.28
1593.69
1639.85
155
443.06
697.50
694.21
958.64
783.45
156
174.09
34.80
78.64
21.58
45.01
157
1908.26
99.49
1399.56
1580.41
1026.49
158
707.91
132.86
392.50
579.43
368.26
159
271.89
165.28
155.28
152.98
157.85
160
279.65
1691.38
435.66
17.48
714.84
161
208.73
211.15
197.79
206.61
205.18
162
288.75
153.38
466.67
362.83
327.63
163
2266.10
1801.83
963.35
1184.61
1316.60
164
1170.16
1970.24
1147.13
990.38
1369.25
165
326.94
57.04
74.38
38.60
56.67
166
511.63
67.25
201.23
109.65
126.04
167
302.05
132.74
95.98
375.70
201.47
168
337.24
571.17
180.63
247.99
333.26
169
630.96
45.85
289.58
72.02
135.82
170
66.28
67.25
62.26
59.10
62.87
171
27.77
321.91
28.01
468.59
272.84
172
1352.61
2381.65
1407.92
485.60
1425.06
173
470.99
1609.83
921.66
969.94
1167.14
174
578.43
129.75
133.99
396.52
220.09
175
1456.44
636.58
795.18
973.91
801.89
176
850.21
1746.98
362.44
656.45
921.96
177
889.55
827.40
497.39
1104.52
809.77
178
7.99
7.99
291.21
817.88
372.36
179
887.15
1106.02
23.90
23.90
384.61
180
396.94
47.22
0.48
20.99
22.90
181
1063.59
535.32
988.81
1786.73
1103.62
182
829.54
79.52
274.44
518.70
290.89
183
425.30
1793.55
1057.65
157.90
1003.03
184
1149.91
111.94
852.47
876.11
613.51
185
1451.51
125.71
519.75
2334.31
993.26
186
280.41
631.04
145.75
647.90
474.90
187
561.68
220.28
159.05
395.31
258.21
188
1833.90
1182.29
1787.32
1113.60
1361.07
189
1086.37
567.45
308.46
695.47
523.79
190
1472.05
441.09
1123.39
599.45
721.31
191
-33.39
33.00
30.40
28.76
30.72
192
1668.59
4.91
371.46
279.80
218.72
193
675.12
294.05
608.53
400.09
434.22
194
65.97
25.58
22.24
330.88
126.23
195
579.17
643.70
98.13
94.28
278.70
196
751.91
304.74
-56.32
318.40
188.94
197
1835.50
1645.06
824.87
367.73
945.89
198
15.37
15.98
14.78
414.81
148.52
199
1401.91
892.73
945.26
1425.15
1087.71
200
246.12
314.26
186.77
131.65
210.89
December
January
February
March
JantoMarAvg
1
185.86
49.09
35.00
0.61
28.23
2
2380.32
979.05
2244.96
1227.30
1483.77
3
12.06
6.03
4.46
573.86
194.78
4
59.70
86.19
52.41
103.07
80.56
5
506.92
399.27
1206.95
451.93
686.05
6
439.30
517.52
715.69
547.53
593.58
7
2065.13
543.77
1107.40
1071.37
907.51
8
570.19
804.17
639.43
971.52
805.04
9
682.33
365.10
263.15
800.72
476.32
10
148.17
154.79
144.99
141.53
147.10
11
23.90
147.85
123.96
808.33
360.05
12
14.95
41.97
2351.51
9.95
801.14
13
942.80
896.44
596.42
91.92
528.26
14
1407.52
716.13
328.94
211.04
418.70
15
27.85
105.76
46.79
-67.30
28.42
16
1265.77
1128.82
765.81
1489.83
1128.15
17
22.07
39.83
21.80
-13.78
15.95
18
2177.82
1763.56
2280.02
2049.17
2030.92
19
817.54
154.92
447.78
1062.71
555.14
20
771.69
1076.04
630.48
123.62
610.05
21
263.68
502.98
484.33
329.21
438.84
22
30.33
28.50
75.63
81.63
61.92
23
138.36
50.18
-22.92
22.92
16.73
24
24.26
25.25
23.61
22.94
23.93
25
665.16
383.36
1637.08
691.52
903.99
26
931.69
936.09
1249.41
413.41
866.30
27
384.34
53.61
666.08
172.13
297.27
28
504.35
121.05
106.60
463.54
230.40
29
2071.75
599.39
2156.12
1334.55
1363.35
30
52.39
165.73
52.19
88.28
102.07
31
1375.89
218.00
1790.65
665.46
891.37
32
224.80
372.28
728.11
393.74
498.04
33
419.83
382.93
1279.89
1105.67
922.83
34
1576.21
1212.48
1454.98
1362.89
1343.45
35
24.12
24.18
17.55
11.60
17.78
36
1235.24
1508.30
369.99
631.62
836.64
37
782.39
37.20
67.69
162.32
89.07
38
781.76
115.13
1584.15
258.27
652.52
39
648.29
1270.84
684.88
642.36
866.03
40
133.41
152.14
130.36
1072.54
451.68
41
318.43
170.00
0.00
777.45
315.82
42
498.36
441.58
458.65
421.49
440.57
43
112.41
24.95
24.95
24.95
24.95
44
362.88
346.08
176.00
173.15
231.74
45
211.54
220.23
799.67
274.06
431.32
46
779.75
585.59
713.50
1748.71
1015.93
47
869.07
506.77
1286.19
1589.14
1127.37
48
73.68
72.98
67.22
150.78
96.99
49
510.28
1604.91
1109.39
1069.68
1261.33
50
2060.42
731.55
1649.95
161.72
847.74
51
1624.05
2166.33
1152.78
809.09
1376.07
52
290.62
212.69
295.05
216.01
241.25
53
917.68
2315.59
264.53
998.16
1192.76
54
839.65
225.58
187.53
161.42
191.51
55
112.59
118.34
112.03
107.79
112.72
56
905.48
505.02
2103.28
-159.26
816.35
57
962.04
578.91
739.99
1995.77
1104.89
58
2000.00
4.98
219.80
267.88
164.22
59
146.84
153.37
278.55
141.96
191.29
60
24.95
24.95
24.95
40.53
30.14
61
632.31
337.23
254.96
754.31
448.83
62
1264.26
1820.75
78.27
623.69
840.90
63
23.32
1124.65
71.45
29.40
408.50
64
276.19
376.48
834.20
1384.50
865.06
65
542.50
122.48
121.48
22.18
88.71
66
3.73
93.09
2.80
2.24
32.71
67
661.98
691.42
1376.03
694.27
920.57
68
1780.15
278.22
446.14
2230.34
984.90
69
1774.83
1464.87
781.77
280.49
842.38
70
516.08
440.10
44.88
347.90
277.63
71
2190.39
251.84
78.66
140.79
157.10
72
172.55
18.34
940.78
943.46
634.19
73
438.05
502.87
2382.89
1409.83
1431.86
74
653.96
1589.35
624.34
555.53
923.07
75
1810.06
777.50
1373.01
1133.04
1094.52
76
541.68
1937.48
205.26
385.70
842.81
77
351.61
131.70
80.50
603.42
271.87
78
1124.59
1643.65
396.94
931.09
990.56
79
3.61
277.96
4.82
-1.60
93.73
80
1284.97
755.29
405.82
285.17
482.09
81
395.93
856.51
350.38
1049.28
752.06
82
1348.21
1136.15
1150.81
1301.79
1196.25
83
1267.39
247.47
526.03
611.83
461.78
84
22.85
23.08
21.28
20.26
21.54
85
915.21
466.34
1996.19
1881.83
1448.12
86
1309.15
1343.83
920.13
2234.26
1499.41
87
336.21
28.94
85.08
33.26
49.09
88
261.45
255.00
2366.96
206.15
942.70
89
1341.52
1475.53
1694.22
2046.15
1738.63
90
129.63
202.25
325.16
288.70
272.04
91
1053.95
666.96
679.84
649.92
665.57
92
1065.46
220.44
61.87
1019.95
434.09
93
13.53
1416.16
77.83
20.99
504.99
94
2266.00
1019.89
1212.15
1132.48
1121.51
95
1599.52
825.52
903.41
119.02
615.98
96
79.33
83.23
78.37
76.84
79.48
97
1998.83
971.45
2060.79
2003.99
1678.74
98
1809.25
1586.42
1844.93
1891.23
1774.19
99
95.78
60.77
105.26
98.71
88.25
100
275.81
819.92
703.44
1076.11
866.49
101
7.30
7.39
6.72
6.31
6.81
102
469.64
324.19
1621.98
428.08
791.42
103
180.00
39.30
-76.77
77.91
13.48
104
1544.75
20.47
18.98
73.34
37.60
105
1771.73
1073.28
1128.06
913.60
1038.31
106
1891.99
1421.58
1229.93
1403.80
1351.77
107
72.63
495.42
46.85
69.88
204.05
108
632.15
400.23
140.10
416.56
318.96
109
241.11
635.65
252.78
73.18
320.54
110
2167.28
804.05
1002.34
825.94
877.44
111
543.64
1188.16
1877.32
1064.87
1376.78
112
2219.47
873.04
901.81
1110.84
961.90
113
127.57
388.00
116.67
128.44
211.04
114
263.57
275.02
255.71
333.57
288.10
115
693.84
662.07
498.97
1086.71
749.25
116
295.49
854.22
289.60
274.34
472.72
117
2219.78
2154.57
1797.52
1244.75
1732.28
118
930.89
988.87
1030.28
764.54
927.90
119
401.85
146.48
111.86
145.80
134.71
120
405.67
111.92
179.80
411.02
234.25
121
474.60
157.87
88.78
103.70
116.78
122
759.69
-165.35
1177.79
0.00
337.48
123
9.37
39.24
7.33
6.99
17.85
124
149.48
196.91
819.22
117.43
377.85
125
0.00
125.15
7.72
7.59
46.82
126
23.93
73.25
233.86
410.28
239.13
127
2385.46
2313.73
693.79
643.92
1217.15
128
245.77
294.42
241.43
261.82
265.89
129
132.36
59.85
53.57
58.60
57.34
130
190.64
812.32
1007.11
82.03
633.82
131
417.99
114.88
442.92
180.24
246.01
132
78.85
459.89
78.85
95.76
211.50
133
86.02
1601.08
1793.17
0.00
1131.42
134
311.05
918.44
138.44
222.58
426.49
135
1002.19
920.83
407.05
2407.59
1245.16
136
1698.55
900.26
1112.42
999.65
1004.11
137
440.32
439.22
379.50
445.23
421.32
138
451.18
440.00
1087.10
40.24
522.45
139
2005.89
924.46
69.88
794.21
596.18
140
1800.51
467.47
641.37
435.54
514.79
141
404.69
414.92
269.45
759.02
481.13
142
574.12
23.37
568.72
173.76
255.28
143
172.07
1071.14
523.43
363.31
652.63
144
501.49
502.06
108.33
83.13
231.17
145
139.22
427.06
362.84
387.90
392.60
146
404.04
0.00
1076.93
1101.72
726.22
147
67.09
401.67
99.21
66.98
189.29
148
73.92
102.48
173.51
339.81
205.27
149
21.20
20.97
19.75
19.98
20.23
150
77.13
83.91
111.98
72.18
89.36
151
359.93
13.98
14.88
14.09
14.32
152
2040.32
794.24
821.76
157.47
591.16
153
1713.25
1967.98
402.11
1259.72
1209.94
154
1862.20
1842.59
1483.28
1593.69
1639.85
155
443.06
697.50
694.21
958.64
783.45
156
174.09
34.80
78.64
21.58
45.01
157
1908.26
99.49
1399.56
1580.41
1026.49
158
707.91
132.86
392.50
579.43
368.26
159
271.89
165.28
155.28
152.98
157.85
160
279.65
1691.38
435.66
17.48
714.84
161
208.73
211.15
197.79
206.61
205.18
162
288.75
153.38
466.67
362.83
327.63
163
2266.10
1801.83
963.35
1184.61
1316.60
164
1170.16
1970.24
1147.13
990.38
1369.25
165
326.94
57.04
74.38
38.60
56.67
166
511.63
67.25
201.23
109.65
126.04
167
302.05
132.74
95.98
375.70
201.47
168
337.24
571.17
180.63
247.99
333.26
169
630.96
45.85
289.58
72.02
135.82
170
66.28
67.25
62.26
59.10
62.87
171
27.77
321.91
28.01
468.59
272.84
172
1352.61
2381.65
1407.92
485.60
1425.06
173
470.99
1609.83
921.66
969.94
1167.14
174
578.43
129.75
133.99
396.52
220.09
175
1456.44
636.58
795.18
973.91
801.89
176
850.21
1746.98
362.44
656.45
921.96
177
889.55
827.40
497.39
1104.52
809.77
178
7.99
7.99
291.21
817.88
372.36
179
887.15
1106.02
23.90
23.90
384.61
180
396.94
47.22
0.48
20.99
22.90
181
1063.59
535.32
988.81
1786.73
1103.62
182
829.54
79.52
274.44
518.70
290.89
183
425.30
1793.55
1057.65
157.90
1003.03
184
1149.91
111.94
852.47
876.11
613.51
185
1451.51
125.71
519.75
2334.31
993.26
186
280.41
631.04
145.75
647.90
474.90
187
561.68
220.28
159.05
395.31
258.21
188
1833.90
1182.29
1787.32
1113.60
1361.07
189
1086.37
567.45
308.46
695.47
523.79
190
1472.05
441.09
1123.39
599.45
721.31
191
-33.39
33.00
30.40
28.76
30.72
192
1668.59
4.91
371.46
279.80
218.72
193
675.12
294.05
608.53
400.09
434.22
194
65.97
25.58
22.24
330.88
126.23
195
579.17
643.70
98.13
94.28
278.70
196
751.91
304.74
-56.32
318.40
188.94
197
1835.50
1645.06
824.87
367.73
945.89
198
15.37
15.98
14.78
414.81
148.52
199
1401.91
892.73
945.26
1425.15
1087.71
200
246.12
314.26
186.77
131.65
210.89
Explanation / Answer
a) Null Hypothesis: Customer spending on December is equal to JantoMar avg.
Alternative Hypothesis : Customer spending is more on december.
We will use t test to identify if their is a significant difference between December and JantoMar spending.
Since we can see the p-value is less that 0.05 , that is 0.004 less than 0.05, hence we reject null hypothesis and conclude that their is significant diference in spending and accept alternative hypothesis saying that in december we spend more.
b) The confidence interval at alpha=95%
The upper confidence interval
=731.85 + 1.98*(SQRT(450478.492)/200) = 738.48
The lower confidence interval
=731.85 - 1.98*(SQRT(216006.94)/200) = 727.25
Part a) No, it does not conclude the previous conclusion.
December JantoMarAvg Mean 731.849 579.163 Variance 450478.492 216006.939 Observations 200.000 200.000 Pooled Variance 333242.716 Hypothesized Mean Difference 0.000 df 398.000 t Stat 2.645 P(T<=t) one-tail 0.004 t Critical one-tail 1.649 P(T<=t) two-tail 0.008 t Critical two-tail 1.966