Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The USA Today reports that the average expenditure on Valentine's Day is $100.89. Do male and female consumers differ in the amounts they spend? The
TheUSA Todayreports 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 49 male consumers was $135.67, and the average expenditure in a sample survey of 36 female consumers was $68.64. Based on past surveys, the standard deviation for male consumers is assumed to be $35, and the standard deviation for female consumers is assumed to be $23.
- What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females (to 2 decimals)?
- At 99% confidence, what is the margin of error (to 2 decimals)?
- Develop a 99% confidence interval for the difference between the two population means (to 2 decimals).(,)
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