A recent study focused on the amount of money single men and women saved monthly. The information is summarized below. Assume that the population standard deviations are equal.
|
Sample Size |
Sample MEan |
Sample Standard Dev |
| Men |
40 |
475 |
100 |
| Women |
50 |
500 |
80 |
At the .01 significance level, do women save more money than men?
a. Reject the null hypothesis and conclude that women save more than men.
b. reject the null hypothesis and conclude that women and men save the same amount
c. fail to reject the null hypothesis and conclude that women save the same or less than men
d. fail to reject the null hypothesis and conclude the means are different