Answer:
The P-value is 0.016.
Step-by-step explanation:
Given information:
Significance level, α = 0.05
Married men Single men
Sample size 60 60
Sample mean $880 $845
Population variance 5200 7100
We need to test whether there is a difference in the two amounts.
Null hypothesis:
Alternative hypothesis:
The formula for t-statistics is
Degree of freedom is
The P-value for at significance level α = 0.05, wih degree of freedom 119 is 0.016174. Approximately it can be written as 0.016.
Therefore the P-value is 0.016.