On average, do women spend more on haircuts than men? Someone took a random sample of men and women at UF and asked them how much they had spent on their last hair cut. A portion of the Minitab output appears below. What is the best interpretation of the output below? Difference = mu (F) - mu (M) T-Test of difference = 0 (vs >): T-Value = 3.82 P-Value = 0.000 DF = 68A. With a p-value equal to 0.000, there is no statistically significant evidence of a difference in average amount of money spent on hair cuts between men and women at UF. B. With a p-value equal to 0.000, there is statistically significant evidence of a difference in average amount of money spent on hair cuts between men and women at UF. C. With a p-value equal to 0.000, there is statistically significant evidence that the average amount of money spent on hair cuts for women is higher than it is for men. D. With a p-value equal to 0.000, there is statistically significant evidence that the average amount of money spent on hair cuts for men is higher than it is for women."

C. With a p-value equal to 0.000, there is statistically significant evidence that the average amount of money spent on hair cuts for women is higher than it is for men.

Explanation:

The P-value, compared to the level of significance, gives us the information to decide if there is statistical evidence or not.

If the P-value is smaller than the level of siginificance, the effect is significant. In this case, with P-value=0.000, it is smaller than any level of significance and we can conclude that there is statistical evidence that there is a difference in the average amount of money spent on haircuts between women and men at UF.

In the output, we have that the t-value is positive. If the Difference is defined as: mu(Female) - mu(Male), we know that the mean spending is higher for women than for men.

Also, the alternative hypothesis is defined as "mu(Female) - mu(Male)>0".

With these, we can conclude the answer is Option C.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

if it is for a job, then you should learn everything you can about the job, like what does it involve, what qualification is required and how you are the right person for that job. dress appropriately for the interview. get plenty of rest the night before. good luck!