USA Today reports that the average expenditure on Valentine's Day is $100.89. Do male and female consumers

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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 40 male consumers was $135.67, and the average expenditure in a sample survey of 30 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 $20.
a. What is the point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females?
b. At 99% confidence, what is the margin of error?
c. Develop a 99% confidence interval for the difference between the two population means.
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Modern Business Statistics With Microsoft Excel

ISBN: 9781337115186

6th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

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