1] For the samples summarized below, test the hypothesis at = 0.5 that the two variances are equal.
Sample 1 Variance = 25 Number of data values = 9
Sample 2 Variance = 9 Number of data values = 19
Do we reject or not reject and why
2] A marketing firm asked a random set of married and single men as to how much they were willing to spend for a vacation. At a = .05, is a there difference in the two amounts and why?
Married Men Single Men
Sample size 50 50
Mean spending 380 325
Sample Variance 6000 9000
The solution provides step by step method for the calculation of testing of hypothesis of Mean and Variance. Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included. The user can edit the inputs and obtain the complete results for a new set of data.