Last name and acquisition timing. The speed with which consumers decide to purchase a product was investigated in the Journal of Consumer Research (August 2011). The researchers theorized that consumers with last names that begin with letters later in the alphabet will tend to acquire items faster than those whose last names begin with letters earlier in the alphabet—called the last name effect. MBA students were offered free tickets to an
- a. Construct a 95% confidence interval for the difference between the true mean response times for MBA students in the two groups.
- b. Based on the interval, pail a, which group has the shorter mean response lime? Does this result support the researchers’ last name effect theory? Explain.
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Statistics for Business and Economics (13th Edition)
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