er Al mi The average expenditure on Valentine\'s Day was expected to be $100.89

Question

er Al mi 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 50 male consumers was $136.38, and the average expenditure in a sample survey of 30 female consumers was $60.56. Based on past surveys, the standard deviation for male consumers is assumed to be $30, and the standard deviation for female consumers is assumed to be $12. The 2 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? b. At 99% confidence, what is the margin of error? C. Develop a 99% confidence interval for the difference between the two population means. to ian

Explanation / Answer

a. 136.38-60.56 = 75.82

b) Margnial Error = 4.7749

c) 99% Confidence interval: 63.5206 < µ1-µ2 < 88.1194

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