We see that overweight participants who lose money when they don\'t meet a speci
ID: 3235148 • Letter: W
Question
We see that overweight participants who lose money when they don't meet a specific exercise goal meet the goal more often, on average, than those who win money when they meet the goal, even if the final result is the same financially. In particular, participants who lost money met the goal for an average of 45.0 days (out of 100) while those winning money or receiving other incentives met the goal for an average of 33.7 days. We also see that the incentive does make a difference. In this exercise, we ask how big the effect is between the two types of incentives. Find and interpret a 95% confidence interval for the difference in mean number of days meeting the goal, between people who lose money when they don't meet the goal and those who win money or receive other similar incentives when they do meet the goal. The standard error for the difference in means from a bootstrap distribution is 4.14.
Explanation / Answer
Answer) Average of the participants who lost the money but met the gola is 45days
Average of the participants who won money or received other incentives is 33.7 days
So, the difference in mean number of days meeting the goal between people who lose money when they don't meet the goal and those who win money or receive other similar incentives when they do meet the goal is
45days - 33.7days = 11.3 days
Confidence level = 95%
So, the critical value is 1.96
Standard Error for the difference in means from a bootstrap distribution is 4.14
Hence, Margin of Error = Critical Value * Standard Error
Margin of Error = 1.96 * 4.14
= 8.1144
Hence, the confidence interval is Difference in Means + / - Margin of Error
11.3 +/- 8.1144
Confidence Interval is (3.1856 , 19.4144)
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