Answered step by step
Verified Expert Solution
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
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started