See attached file.
1. Perform a two-tailed hypothesis test on both the intrinsic and the extrinsic variable's data, using a .05 significance level.
2. Begin by creating a null and an alternate statement.
3. Use Microsoft Excel to process your data. Copy and paste the results of the output to your report in Microsoft Word.
4. Identify the significance level, the test statistic, and the critical value. State whether you are rejecting or failing to reject the null hypothesis statement.
5. In a separate paragraph, provide some information on when to use a t-test and when to use a z-test and why.
6. Also, provide some information about why samples are used instead of populations.
The solution provides step by step method for the calculation of test statistic for the comparison of population mean. The solution also provides information on when to use a t-test and when to use a z-test and why samples are used instead of populations. 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.