Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 consumers was $132.67, and the average expenditure in a sample survey of 30 female consumers was $69.64. 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 $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 $______________

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Partial Differential Equations With Fourier Series And Boundary Value Problems

Authors: Nakhle H Asmar

1st Edition

0486820831, 9780486820835

More Books

Students also viewed these Mathematics questions