Question
For a study conducted by the research department of a pharmaceutical company,280 randomly selected individuals were asked to report the amount of money they spend
For a study conducted by the research department of a pharmaceutical company,280
randomly selected individuals were asked to report the amount of money they spend annually on prescription allergy relief medication. The sample mean was found to be$
17.70
with a standard deviation of$
5.40
. A random sample of200
individuals was selected independently of the first sample. These individuals reported their annual spending on non-prescription allergy relief medication. The mean of the second sample was found to be$
18.30
with a standard deviation of$
4.40
. As the sample sizes were quite large, it was assumed that the respective population standard deviations of the spending for prescription and non-prescription allergy relief medication could be estimated as the respective sample standard deviation values given above. Construct a90
%
confidence interval for the difference
1
2
between the mean spending on prescription allergy relief medication (
1
) and the mean spending on non-prescription allergy relief medication (
2
). Then complete the table below.
Carry your intermediate computations to at least three decimal places. Round your answers to at least two decimal places.
What is the lower limit of the 90% confidence interval
What is the upper limit of the 90% confidence interval
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