About 67% of married adults say they consult with their spouse before spending $352, the average of
Question:
About 67% of married adults say they consult with their spouse before spending $352, the average of the amount that married adults say they consult with each other before spending.
Source: Yankelovich Partner for Lutheran Brotherhood
a. Based on the preceding information, what can you conclude about the variable, dollar amount, that requires consultation with a spouse before spending? What is the $352?
A survey of 500 married adults was taken from a nearby neighborhood and gave a sample mean of
$289.75.
b. Construct a 0.98 confidence interval for the mean amount for all married adults. Use $600.
c. Based on the answers to parts a and
b, what can you conclude about the mean dollar amount married adults discuss with their spouses before spending in the sampled neighborhood compared with the general population?
Step by Step Answer:
Just The Essentials Of Elementary Statistics
ISBN: 9780495314875
10th Edition
Authors: Robert Johnson, Patricia Kuby