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The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13,2006 ). Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 40 male consumers was $133.11, and the average expenditure in a sample survey of 33 female consumers was $68.22. Based on past surveys, the standard deviation for male consumers is assumed to be $34, and the standard deviation for female consumers is assumed to be $20. The z value is 2.576. Round your answers to 2 decimal places. a. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females? b. At 99% confidence, what is the margin of error? c. Develop a 99% confidence interval for the difference between the two population means. to Bank of America's Consumer Spending Survey collected data on annual credit card charges in seven different categories of expenditures: transportation, groceries, dining out, household expenses, home furnishings, apparel, and entertainment. Using data from a sample of 42 credit card accounts, assume that each account was used to identify the annual credit card charges for groceries (population 1) and the annual credit card charges for dining out (population 2). Using the difference data, the sample mean difference was d=$850, and the sample standard deviation was sd=$1123. a. Formulate the null and alternative hypotheses to test for no difference between the population mean credit card charges for groceries and the population mean credit card charges for dining out. H0:Ha: b. Use =.05 level of significance. Can you conclude that the population means differ? What is the p-value? (to 6 decimals) c. Which category, groceries or dining out, has a higher population mean annual credit card charge? What is the point estimate of the difference between the population means? Round to the nearest whole number. What is the 95% confidence interval estimate of the difference between the population means? Round to the nearest whole number. (n1,n2)= Consider the hypothesis test below. H0:p1p20Ha:p1p2>0 The following results are for independent samples taken from the two populations. Use pooled estimator of p. a. What is the value of the test statistic (to 2 decimals)? (1) b. What is the p-value (to 4 decimals)? c. With =.05, what is your hypothesis testing conclusion? The National Association of Home Builders provided data on the cost of the most popular home remodeling projects. Sample data on cost in thousands of dollars for two types of remodeling projects are as follows. Excel File: data10-41.xlsx a. Develop a two point estimate of the difference between the population mean remodeling costs for the two types of projects. Enter negative values as negative numbers. Point estimate =$ (Report in dollars with no commas in your answer.) b. Develop a 90% confidence interval for the difference between the two population means. (to 1 decimal and enter negative values as negative numbers) 90%CI(n1,n2) in thousands of dollars
