Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

17. [-/20 Points] DETAILS ASWSBE14 10.E.005. 0/2 Submissions Used MY NOTES ASK YOUR TEA You may need to use the appropriate appendix table or technology

image text in transcribed
17. [-/20 Points] DETAILS ASWSBE14 10.E.005. 0/2 Submissions Used MY NOTES ASK YOUR TEA You may need to use the appropriate appendix table or technology to answer this question. A newspaper reports that the average expenditure on Valentine's Day is $100.89. Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 40 male con was $131.67, and the average expenditure in a sample survey of 30 female consumers was $66.64. Based on past surveys, the standard deviation for male consumers is assumed to be $45, and the standard deviation for female consumers is assumed to be $20. (a) What is the point estimate (in dollars) of the difference between the population mean expenditure for males and the population mean expenditure for females? (Use male - female.) $ (b) At 99% confidence, what is the margin of error (in dollars)? (Round your answer to the nearest cent.) $ (c) Develop a 99% confidence interval (in dollars) for the difference between the two population means. (Use male - female. Round your answer to the nearest cent.) $ to $ Submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Authors: David C. Colander

10th edition

1259663043, 1259663048, 978-1259663048

Students also viewed these Mathematics questions