Discuss the below:
The null hypothesis is that the mean price paid by younger customers (µ1) will not be as high as the price paid by older customers (µ2). The alternative hypothesis is that younger customers spend more on average than their older counterparts.
Do a two sample test.
Perform the five-step hypothesis test on the data.
Whitner Autoplex Data Set legend.
X1: Selling price in dollars
X2: Selling price in thousands of dollars
X3: Age of buyer
X4: 0=Domestic, 1=Imported
80 Autos Sold
| Price |
Price($000) |
Age |
Type |
| 23197 |
23.197 |
46 |
0 |
| 23372 |
23.372 |
48 |
0 |
| 20454 |
20.454 |
40 |
1 |
| 23591 |
23.591 |
40 |
0 |
| 26651 |
26.651 |
46 |
1 |
| 27453 |
27.453 |
37 |
1 |
| 17266 |
17.266 |
32 |
1 |
| 18021 |
18.021 |
29 |
1 |
| 28683 |
28.683 |
38 |
1 |
| 30872 |
30.872 |
43 |
0 |
| 19587 |
19.587 |
32 |
0 |
| 23169 |
23.169 |
47 |
0 |
| 35851 |
35.851 |
56 |
0 |
| 19251 |
19.251 |
42 |
1 |
| 20047 |
20.047 |
28 |
1 |
| 24285 |
24.285 |
56 |
0 |
| 24324 |
24.324 |
50 |
1 |
| 24609 |
24.609 |
31 |
1 |
| 28670 |
28.67 |
51 |
1 |
| 15546 |
15.546 |
26 |
1 |
| 15935 |
15.935 |
25 |
1 |
| 19873 |
19.873 |
45 |
1 |
| 25251 |
25.251 |
56 |
1 |
| 25277 |
25.277 |
47 |
0 |
| 28034 |
28.034 |
38 |
1 |
| 24533 |
24.533 |
51 |
0 |
| 27443 |
27.443 |
39 |
0 |
| 19889 |
19.889 |
44 |
1 |
| 20004 |
20.004 |
46 |
1 |
| 17357 |
17.357 |
28 |
1 |
| 20155 |
20.155 |
33 |
1 |
| 19688 |
19.688 |
35 |
1 |
| 23657 |
23.657 |
35 |
0 |
| 26613 |
26.613 |
42 |
1 |
| 20895 |
20.895 |
35 |
0 |
| 20203 |
20.203 |
36 |
1 |
| 23765 |
23.765 |
48 |
0 |
| 25783 |
25.783 |
53 |
1 |
| 26661 |
26.661 |
46 |
1 |
| 32277 |
32.277 |
55 |
0 |
| 20642 |
20.642 |
39 |
1 |
| 21981 |
21.981 |
43 |
1 |
| 24052 |
24.052 |
56 |
0 |
| 25799 |
25.799 |
44 |
0 |
| 15794 |
15.794 |
30 |
1 |
| 18263 |
18.263 |
39 |
1 |
| 35925 |
35.925 |
53 |
0 |
| 17399 |
17.399 |
29 |
1 |
| 17968 |
17.968 |
30 |
1 |
| 20356 |
20.356 |
44 |
0 |
| 21442 |
21.442 |
41 |
1 |
| 21722 |
21.722 |
41 |
0 |
| 19331 |
19.331 |
35 |
1 |
| 22817 |
22.817 |
51 |
1 |
| 19766 |
19.766 |
44 |
1 |
| 20633 |
20.633 |
51 |
1 |
| 20962 |
20.962 |
49 |
1 |
| 22845 |
22.845 |
41 |
1 |
| 26285 |
26.285 |
44 |
0 |
| 27896 |
27.896 |
37 |
0 |
| 29076 |
29.076 |
42 |
1 |
| 32492 |
32.492 |
51 |
0 |
| 18890 |
18.89 |
31 |
1 |
| 21740 |
21.74 |
39 |
0 |
| 22374 |
22.374 |
53 |
0 |
| 24571 |
24.571 |
55 |
1 |
| 25449 |
25.449 |
40 |
0 |
| 28337 |
28.337 |
46 |
0 |
| 20642 |
20.642 |
35 |
1 |
| 23613 |
23.613 |
47 |
1 |
| 24220 |
24.22 |
58 |
1 |
| 30655 |
30.655 |
51 |
0 |
| 22442 |
22.442 |
41 |
1 |
| 17891 |
17.891 |
33 |
1 |
| 20818 |
20.818 |
46 |
1 |
| 26237 |
26.237 |
47 |
0 |
| 20445 |
20.445 |
34 |
1 |
| 21556 |
21.556 |
43 |
1 |
| 21639 |
21.639 |
37 |
1 |
| 24296 |
24.296 |
47 |
0 |