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 $137.67, 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 $45, 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 $

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 $137.67, 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 $45, 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 $

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter6: Statistical Inference

Section: Chapter Questions

Problem 9P: The Economic Policy Institute periodically issues reports on wages of entry-level workers. The...

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The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011. Assume that the standard deviation for male graduates is $2.30, and for female graduates it is $2.05. What is the sampling distribution of for a random sample of 50 male college graduates? What is the sampling distribution of for a random sample of 50 female college graduates? In which of the preceding two cases, part (a) or part (b), is the standard error of smaller? Why?
The president of the American Insurance Institute wants to compare the yearly costs of auto insurance offered by two leading companies. He selects a sample of 15 families, some with only a single insured driver, others with several teenage drivers, and pays each family a stipend to contact the two companies and ask for a price quote. To make the data comparable, certain features, such as the deductible amount and limits of liability, are standardized. The data for the sample of families and their two insurance quotes are reported in the table. Family Becker Berry Cobb Debuck Midstates Car Insurance $ 2,090 Gecko Mutual Insurance $ 1,610 1,683 1,247 1,402 2,327 1,830 1,367 DuBrul 930 1,461 Eckroate 697 1,789 German 1,741 1,621 Glasson 1,129 1,914 King 1,018 1,956 Kucic 1,881 1,772 Meredith 1,571 1,375 Obeid 874 1,527 Price 1,579 1,767 Phillips 1,577 Tresize 860 1,636 1,188 Click here for the Excel Data File At the 0.10 significance level, can we conclude that there is a difference in…
A Wall Street Journal subscriber survey asked 46 questions about subscriber characteristicsand interests. State whether each of the following questions provides categorical orquantitative data.a. What is your age?b. Are you male or female?c. When did you first start reading the WSJ? High school, college, early career, midcareer,late career, or retirement?d. How long have you been in your present job or position?e. What type of vehicle are you considering for your next purchase? Nine responsecategories include sedan, sports car, SUV, minivan, and so on.
The Port Authority also wants to determine if the gender profile of its customers has changed since last year, when 59.4% of its orders placed were placed by males. The genders for a sample of 49,896 orders placed this year are collected and recorded in the file PortAuthority. a. Formulate hypotheses that can be used to test whether the proportion of orders placed by male customers this year differs from the proportion of orders placed by male customers placed last year. b. Use the data in the file PortAuthority to conduct your hypothesis test. What is the p value for your hypothesis test? At = 0.05, what is your conclusion?
A study of homeowners in the 5th congressional district in Maryland found that their annual household incomes are normally distributed with a mean of $41,182 and a standard deviation of $11,990 (based on data from Nielsen Media Research). a. What percentage of household incomes are greater than $30,000?b. What percentage of household incomes are between $25,000 and $40,000?c. If an advertising campaign is to be targeted at those whose household incomes are in the top 20%, find the minimum income level for this target group?
A researcher wants to estimate the average monthly income of individuals in a certain city. A random sample of 20 individuals is selected, and their monthly incomes (in dollars) are recorded as follows: 2,500 2,800 3,000 3,200 3,400 3,500 3,600 4,100 4,200 4,300 4,500 4,600 4,700 4,900 3,700 3,800 4,000 5,000 5,200 5,500 Assuming the incomes are normally distributed, calculate the 90% confidence interval for the average monthly income of individuals in the city.. Please show all the necessary steps and provide your answer with the appropriate interpretation. Hints: • Calculate the sample mean and sample standard deviation. . Determine the critical value (t-value) for a 90% confidence level. • Calculate the margin of error using the critical value and sample standard deviation. • Calculate the lower and upper bounds of the confidence interval using the sample mean and margin of error. • Interpret the confidence interval in the context of the problem. I
The accompanying data provides the results of a survey of 27 employees in a tax division of a Fortune 100 company. a. Test the null hypothesis that the average number of years of service is the same for males and females. Assume that the population variances are unequal. b. Test the null hypothesis that the average years of undergraduate study is the same for males and females. Assume that the population variances are unequal Click the icon to view the survey data. a. Is there sufficient evidence at the 0.01 level of significance that the average number of years of service is the same for males and females? Determine the null hypothesis, H. and the alternative hypothesis. H Let females be population 1 and males be population 2 Ho H1 H2 = 0 HH-H # 0 (Type integers or decimals. Do not round.) Compute the test statistic (Round to two decimal places as needed.) Survey data Gender Years of Service Years Undergraduate Study Gender Years of Service Years Undergraduate Study Female 18 4 Male 6…
The accompanying data provides the results of a survey of 27 employees in a tax division of a Fortune 100 company. a. Test the null hypothesis that the average number of years of service is the same for males and females. Assume that the population variances are unequal. b. Test the null hypothesis that the average years of undergraduate study is the same for males and females. Assume that the population variances are unequal. Click the icon to view the survey data. a. Is there sufficient evidence at the 0.01 level of significance that the average number of years of service is the same for males and females? Determine the null hypothesis, Ho, and the alternative hypothesis, H₁. Let females be population 1 and males be population 2. Ho P-P2 H₁: P₁ - H = 0 (Type integers or decimals. Do not round.) Compute the test statistic. - 3.65 (Round to two decimal places as needed.) Find the p-value for the test. (Round to three decimal places as needed.)
The mean height of women in a country (ages 20−29) is 63.9 inches. A random sample of 60 women in this age group is selected. What is the probability that the mean height for the sample is greater than 65 inches? Assume σ=2.84. The probability that the mean height for the sample is greater than 65 inches is nothing.
The total expenditure of a sample of 119 customers of Shoprite and a sample of 137 customers of Accra Mall were analysed and the following grouped frequency distribution was obtained. Which shop has higher uncertain purchases by customers? Frequency (Shoprite) Frequency (Accra Mall) Expenditure Range (GH¢' 000) O to 19 20 to 39 40 to 59 13 35 27 61 41 17 60 to 79 80 to 99 100 to 119 19 14 17 5 2 5
1) An ice cream store vendor wants to find out if there is a difference in the sales of the store during the different months of the year. Listed below is the sales (in thousands) of the store during 2021: No. of sales Jan. Feb. 22 30 Satisfactory Rating Sales 4.3 Mar. Apr. May 44 50 48 154 2) A store owner wants to find out if the customer satisfactory rating (1 being the lowest and 5 being the highest) affects the selling power of the store. Listed below is the customer satisfactory rating of the year and its corresponding sale (in thousands): 3.33 Jun. 23 133 4.21 Jul. Aug. 21 20 180 3.89 Sept. Oct. Nov. Dec. 30 31 29 33 190 4.0 200
The president of Doerman Distributors, Inc., believes that 30% of the firm’s orders come from first-time customers. A random sample of 100 orders will be used to estimate the proportion of first-time customers. Assume that the president is correct and p = 0.30. What is the sampling distribution of for this study?