Question: Business and Management Gift cards have become a popular present. Retailers like these cards because they are easier to process than paper gift certificates and more difficult to forge. Customers appreciate the convenience; the cards make great stocking stuffers and are easy to mail. Independent random samples of credit card-type gift certificates from two merchants were obtained, and the purchased value (in dollars) of each was recorded. The summary statistics and known variances are given in the following table.
Is there any evidence to suggest that the true mean Nordstrom gift-certificate purchased value is different from the true mean Macy's gift-certificate purchase value? Use a = 0.01. Write a Solution Trail for this problem.