Question: 1- 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

1-

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 $65.64. 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 (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 $ ---------

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!