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 41 maleconsumers was $135.67. and the average expenditure in a sample survey of 40 female consumers was $68.64. Based on past surveys, the standard deviation for male consumers is assumed to be $37, andExercise 10.27 Algorithmic: Not Answeredtne tmuuru uCnutionnvnmnurC coNsumers IS assumed to be $21.a. 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)?b. At 99% confidence, what is the margin of error (to 2 decimals)?c. Develop a 99% confidence interval for the difference between the two population means (to 2 decimals). Use z-table.

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Asked Nov 16, 2019
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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 41 male
consumers was $135.67. and the average expenditure in a sample survey of 40 female consumers was $68.64. Based on past surveys, the standard deviation for male consumers is assumed to be $37, and
Exercise 10.27 Algorithmic: Not Answered
tne tmuuru uCnutionnvnmnurC coNsumers IS assumed to be $21.
a. 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)?
b. At 99% confidence, what is the margin of error (to 2 decimals)?
c. Develop a 99% confidence interval for the difference between the two population means (to 2 decimals). Use z-table.
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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 41 male consumers was $135.67. and the average expenditure in a sample survey of 40 female consumers was $68.64. Based on past surveys, the standard deviation for male consumers is assumed to be $37, and Exercise 10.27 Algorithmic: Not Answered tne tmuuru uCnutionnvnmnurC coNsumers IS assumed to be $21. a. 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)? b. At 99% confidence, what is the margin of error (to 2 decimals)? c. Develop a 99% confidence interval for the difference between the two population means (to 2 decimals). Use z-table.

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Expert Answer

Step 1

The provided information are:

For male
n 41
X 135.67
a37
For female
n2 40
X 68.64
a221
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For male n 41 X 135.67 a37 For female n2 40 X 68.64 a221

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Step 2

(a)

The point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females can be calculated as:

Point estimate=X -X
135.67-68.64
=67.03
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Point estimate=X -X 135.67-68.64 =67.03

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Step 3

(b)

The margin of error can ...

The value of za corresponding to 99% confidence level is 2.575, which is obtained
from the standard normal table.
σ'
Margin of error = zx
п
п,
372 212
=2.575x,
41
40
=17.16
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The value of za corresponding to 99% confidence level is 2.575, which is obtained from the standard normal table. σ' Margin of error = zx п п, 372 212 =2.575x, 41 40 =17.16

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