Where do CFOs get their money news? According to Robert Half International, 47% get their money
news from newspapers, 15% get it from communication/colleagues, 12% get it from television, 11%
from the Internet, 9% from magazines, 5% from radio, and 1% do not know. Suppose a researcher
wants to test these results. She randomly samples 67 CFOs and ﬁnds that 40 of them get their
money news from newspapers. Does the test show enough evidence to reject the ﬁndings of Robert
Half International? Use a = .05.
To answer this question, use the Data Analysis Tool pack in Excel and select “t-Test: Two-Sample
Assuming Equal Variances” from the list of available tools. Explain your answer (how did you decide if
men spend more) and include the output table. Some studies have shown that in the United States,
men spend more than women buying gifts and cards on Valentine’s Day. Suppose a researcher
wants to test this hypothesis by randomly sampling nine men and 10 women with comparable
demographic characteristics from various large cities across the United States to be in a study. Each
study participant is asked to keep a log beginning one month before Valentine’s Day and record all
purchases made for Valentine’s Day during that one-month period. The resulting data are shown
below. Use these data and a 1% level of signiﬁcance to test to determine if, on average, men actually
do spend signiﬁcantly more than women on Valentine’s Day. Assume that such spending is normally
distributed in the population and that the population variances are equal.
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