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.
The average expenditure on Mother’s Day was expected to be RM100.89. Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 40 male consumers was RM135.67, and the average expenditure in a sample survey of 30 female consumers was RM68.64. Based on past surveys, the standard deviation for male consumers is assumed to be RM35, and the standard deviation for
female consumers is assumed to be RM20.
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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