Question 3

Where do CFOs get their money news? According to Robert Half International, 47% get their money

news from newspapers, 15% get it from communication/colleagues, 12% get it from television, 11%

from the Internet, 9% from magazines, 5% from radio, and 1% do not know. Suppose a researcher

wants to test these results. She randomly samples 67 CFOs and ﬁnds that 40 of them get their

money news from newspapers. Does the test show enough evidence to reject the ﬁndings of Robert

Half International? Use a = .05.

Question 4

To answer this question, use the Data Analysis Tool pack in Excel and select “t-Test: Two-Sample

Assuming Equal Variances” from the list of available tools. Explain your answer (how did you decide if

men spend more) and include the output table. Some studies have shown that in the United States,

men spend more than women buying gifts and cards on Valentine’s Day. Suppose a researcher

wants to test this hypothesis by randomly sampling nine men and 10 women with comparable

demographic characteristics from various large cities across the United States to be in a study. Each

study participant is asked to keep a log beginning one month before Valentine’s Day and record all

purchases made for Valentine’s Day during that one-month period. The resulting data are shown

below. Use these data and a 1% level of signiﬁcance to test to determine if, on average, men actually

do spend signiﬁcantly more than women on Valentine’s Day. Assume that such spending is normally

distributed in the population and that the population variances are equal.

Men Women

107.48 125.98

143.61 45.53

90.19 56.35

125.53 80.62

70.79 46.37

83.00 44.34

129.63 75.21

154.22 68.48

93.80 85.84

126.11