Commercial Bank and Trust Company is studying the use of its automatic teller ma
ID: 3320354 • Letter: C
Question
Commercial Bank and Trust Company is studying the use of its automatic teller machines (ATMs). Of particular interest is whether young adults (under 25 years) use the machines more than senior citizens. To investigate further, samples of customers under 25 years of age and customers over 60 years of age were selected. The number of ATM transactions last month was determined for each selected individual, and the results are shown below. Under 25 10 10 11 15 7 11 10 9 Over 60 4 8 7 7 4 5 1 7 4 10 5 Click here for the Excel Data File 1. Find the degrees of freedom for unequal variance test. (Round down answer to nearest whole number.) Degrees of freedom 2. State the decision rule for 0.01 significance level: H0 under over; under > over. (Round your answer to 3 decimal places.) Reject H0 if t > 3. Compute the value of the test statistic. (Round your answer to 2 decimal places.) Value of the test statistic 4. At the .01 significance level, can the bank management conclude that younger customers use the ATMs more? H0. Bank management conclude that younger customers use the ATMs more.
Explanation / Answer
p-value = 0.00025
As p-value is less than significance level of 0.01, we reject the null hypothesis.
Bank management conclude that younger custromes use the ATMs more
Given Data Sample 1 Sample 2 Name Under 25 Over 60 mean 10.375 5.63636364 Sample size 8 11 Std. dev. 2.26 2.46