USA Today reports that the average expenditure on Valentine's Day was expected to be $100.89. Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 52 male consumers was $131.22, and the average expenditure in a sample survey of 39 female consumers was $63.54. 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 $10. The z value is 2.576. Round your answers to 2 decimal places. a. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females? 10.10 b. At 99% confidence, what is the margin of error? 17.29 c. Develop a 99% confidence interval for the difference between the two population means. 49.74 to 76.17
USA Today reports that the average expenditure on Valentine's Day was expected to be $100.89. Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 52 male consumers was $131.22, and the average expenditure in a sample survey of 39 female consumers was $63.54. 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 $10. The z value is 2.576. Round your answers to 2 decimal places. a. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females? 10.10 b. At 99% confidence, what is the margin of error? 17.29 c. Develop a 99% confidence interval for the difference between the two population means. 49.74 to 76.17
Transcribed Image Text:Hint(s) Check My Work
USA Today reports that the average expenditure on Valentine's Day was expected to be $100.89. Do male and female consumers differ in
the amounts they spend? The average expenditure in a sample survey of 52 male consumers was $131.22, and the average expenditure
in a sample survey of 39 female consumers was $63.54. 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 $10. The z value is 2.576.
Round your answers to 2 decimal places.
a. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure
for females?
10.10
b. At 99% confidence, what is the margin of error?
17.29
c. Develop a 99% confidence interval for the difference between the two population means.
49.74
to 76.17
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
