Please provide answer the question to the fourth decimal place. I am just checking my answer... I completed the answers for A and B below, which you need to solve C.
Do social shoppers differ from other online consumers with respect to spending behavior? A study of browser-based shopping sessions reported that social shoppers, consumers who click away from social networks to retail sites or share an item on social network, spent a mean of 126.12 on a retail site in a 30-day period compared to other online shoppers who spent a mean of $115.55. (Data extracted from "Social shoppers spend 8% more than other online consumers," bit.ly/1FyyXP5.) Suppose that the study consisted of 500 social shoppers and 500 other online shoppers and the standard deviation of the order value was $40 for social shoppers and $10 for other online shoppers. Assume a level of significance of 0.05.
a) Is there evidence of a difference in the variances of the order values between social shoppers and other online shoppers? Yes. I used a upper-tail f-test for the difference of two variances.
b) Is there evidence of a difference in the mean order value between social shoppers and other online shoppers? Yes. I used a separate variance t-test for the difference of two means.
c) Construct a 95% confidence interval estimate for the difference in mean order value between social shoppers and other online shoppers.