The USA Today 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 50 male consumers was $135.67, and the average expenditure in a sample survey of 38 female consumers was $68.64. 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 $22. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females (to 2 decimals)? At 99% confidence, what is the margin of error (to 2 decimals)? Develop a 99% confidence interval for the difference between the two population means (to 2 decimals). Use z-table.
The USA Today 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 50 male consumers was $135.67, and the average expenditure in a sample survey of 38 female consumers was $68.64. 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 $22. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females (to 2 decimals)? At 99% confidence, what is the margin of error (to 2 decimals)? Develop a 99% confidence interval for the difference between the two population means (to 2 decimals). Use z-table.
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
Related questions
Question
The USA Today 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 50 male consumers was $135.67, and the average expenditure in a sample survey of 38 female consumers was $68.64. 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 $22.
What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females (to 2 decimals)?
At 99% confidence, what is the margin of error (to 2 decimals)?
Develop a 99% confidence interval for the difference between the two population means (to 2 decimals). Use z-table.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill