A retailer believes that its new advertising strategy will increase sales.  Previously, the mean spending in 15 categories of consumer items in both the 18-34 and 35+ age groups was $70.00

  • Formulate a hypothesis test to determine if the mean spending in these categories has statistically increased.
  • After the new advertising campaign was launched, a marketing study found that the mean spending for 300 respondents in the 18-34 age group was $75.86, with a standard deviation of $50.90.  Is there sufficient evidence to conclude that the advertising strategy significantly increased sales in this age group?
  • For 700 respondents in the 35+ age group, the  mean and the standard deviation were $68.53 and $45.29, respectively.  Is there sufficient evidence to conclude that  the advertising strategy significantly increased sales in this age group?

I need to have this in excel is that is possible. thank you.

Null hypothesis H0 : u = $70Alternative hypothesis H1: u > $70 a) sample mestdsample sizep valueAlphadecision 75.8650.9300 0.9769240.05not significant b) sample mestdsample sizep…

"Get 15% discount on your first 3 orders with us"
Use the following coupon

Order Now