The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006)....

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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 60 male consumers was $133.71, and the average expenditure in a sample survey of 35 female consumers was $62.21. 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 $12. 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? 71.50 b. At 99% confidence, what is the margin of error? 14.91 x c. Develop a 99% confidence interval for the difference between the two population means. 56.59 to 86.41 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 60 male consumers was $133.71, and the average expenditure in a sample survey of 35 female consumers was $62.21. 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 $12. 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? 71.50 b. At 99% confidence, what is the margin of error? 14.91 x c. Develop a 99% confidence interval for the difference between the two population means. 56.59 to 86.41

Answer rating: 100% (QA)

To calculate the point estimate margin of error and confidence interval we can use the following for... View the full answer