Homework Help is Here – Start Your Trial Now!
Math
Statistics
The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006). Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 46 male consumers was $136.75, and the average expenditure in a sample survey of 30 female consumers was $64.68. Based on past surveys, the standard deviation for male consumers is assumed to be $31, 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? 71.76 b. At 99% confidence, what is the margin of error? 16.70 c. Develop a 99% confidence interval for the difference between the two population means. 59.60 to 83.92

The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006). Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 46 male consumers was $136.75, and the average expenditure in a sample survey of 30 female consumers was $64.68. Based on past surveys, the standard deviation for male consumers is assumed to be $31, 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? 71.76 b. At 99% confidence, what is the margin of error? 16.70 c. Develop a 99% confidence interval for the difference between the two population means. 59.60 to 83.92

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
See similar textbooks
icon
Related questions
Topic Video
Question
The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006). Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 46 male consumers was $136.75, and the average expenditure in a sample survey of 30 female consumers was $64.68. Based on past surveys, the standard deviation for male consumers is assumed to be $31, 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? 71.76 b. At 99% confidence, what is the margin of error? 16.70 c. Develop a 99% confidence interval for the difference between the two population means. 59.60 to 83.92
Transcribed Image Text:The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006). Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 46 male consumers was $136.75, and the average expenditure in a sample survey of 30 female consumers was $64.68. Based on past surveys, the standard deviation for male consumers is assumed to be $31, 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? 71.76 b. At 99% confidence, what is the margin of error? 16.70 c. Develop a 99% confidence interval for the difference between the two population means. 59.60 to 83.92
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Means
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
SEE MORE TEXTBOOKS