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For a study conducted by the research department of a pharmaceutical company, 205 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 $17.60 with a standard deviation of $5.30. A random sample of 250 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 $18.40 with a standard deviation of $4.20. 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 a 95% confidence interval for the difference between the mean spending on prescription allergy relief medication (₁) and the mean spending on non-prescription allergy relief medication (₂). Then find the lower limit and upper limit of the 95% confidence interval. Carry your intermediate computations to at least three decimal places. Round your answers to at least two decimal places. (If necessary, consult a list of formulas.) Lower limit: X Ś Upper limit:

For a study conducted by the research department of a pharmaceutical company, 205 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 $17.60 with a standard deviation of $5.30. A random sample of 250 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 $18.40 with a standard deviation of $4.20. 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 a 95% confidence interval for the difference between the mean spending on prescription allergy relief medication (₁) and the mean spending on non-prescription allergy relief medication (₂). Then find the lower limit and upper limit of the 95% confidence interval. Carry your intermediate computations to at least three decimal places. Round your answers to at least two decimal places. (If necessary, consult a list of formulas.) Lower limit: X Ś Upper limit:

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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For a study conducted by the research department of a pharmaceutical company, 205 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 $17.60 with a standard deviation of $5.30. A random sample of 250 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 $18.40 with a standard deviation of $4.20. 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 a 95% confidence interval for the difference μ₁-₂ between the mean spending on prescription allergy relief medication (₁) and the mean spending on non-prescription allergy relief medication (₂). Then find the lower limit and upper limit of the 95% confidence interval. Carry your intermediate computations to at least three decimal places. Round your answers to at least two decimal places. (If necessary, consult a list of formulas.) Lower limit: X $ ? Upper limit:
Transcribed Image Text:For a study conducted by the research department of a pharmaceutical company, 205 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 $17.60 with a standard deviation of $5.30. A random sample of 250 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 $18.40 with a standard deviation of $4.20. 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 a 95% confidence interval for the difference μ₁-₂ between the mean spending on prescription allergy relief medication (₁) and the mean spending on non-prescription allergy relief medication (₂). Then find the lower limit and upper limit of the 95% confidence interval. Carry your intermediate computations to at least three decimal places. Round your answers to at least two decimal places. (If necessary, consult a list of formulas.) Lower limit: X $ ? Upper limit:
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