The average expenditure on Valentine's Day was expected to be $100.89
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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 44 male consumers was $136.81, and the average expenditure in a sample survey of 37 female consumers was $63.26. Based on past surveys, the standard deviation for male consumers is assumed to be $32 and the standard deviation for female consumers is assumed to be $10. 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 (to 2 decimals)? which is 67.03
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).
[Solved] The average expenditure on Valentine's Day was expected to be $100.89
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- Submitted On 13 Jul, 2020 08:02:32
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