Independent random samples taken on two university campuses revealed the following information concerning the average amount of money spent on textbooks during the fall semester. University A 50 University B 40 Sample Size Average Purchase Standard Deviation (ơ) $260 $250 $ 20 $ 23 1) Find the point estimate of the difference between the mean amount spent on textbooks between University A and University B. 2) Find the 95% confidence interval for the difference between the mean amount spent on textbooks between University A and University B. 3) Find the 99% confidence interval for the difference between the mean amount spent on textbooks between University A and University B
Independent random samples taken on two university campuses revealed the following information concerning the average amount of money spent on textbooks during the fall semester. University A 50 University B 40 Sample Size Average Purchase Standard Deviation (ơ) $260 $250 $ 20 $ 23 1) Find the point estimate of the difference between the mean amount spent on textbooks between University A and University B. 2) Find the 95% confidence interval for the difference between the mean amount spent on textbooks between University A and University B. 3) Find the 99% confidence interval for the difference between the mean amount spent on textbooks between University A and University B
MATLAB: An Introduction with Applications
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Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Answered: For each of the following scenarios...
Independent random samples taken on two university campuses revealed the following
information concerning the average amount of money spent on textbooks during the fall
semester.
University A
50
University B
40
Sample Size
Average Purchase
Standard Deviation (ơ)
$260
$ 20
$250
$ 23
1) Find the point estimate of the difference between the mean amount spent on textbooks between
University A and University B.
2) Find the 95% confidence interval for the difference between the mean amount spent on textbooks
between University A and University B.
3) Find the 99% confidence interval for the difference between the mean amount spent on textbooks
between University A and University B.
You want to determine if students at University A spend on the average a different amount on
textbooks than the students at University B.
4) What null and alternate hypothesis should you use?
5) You want to determine if students at University A spend on the average a different amount on
textbooks than the students at University B. What is the value of the test statistic?
a) 2.10](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F18f586f2-2b12-4e9f-883a-779f80afdbe3%2Fdd068ab1-a5dc-443e-a917-07613121c0eb%2F5tieloo_processed.png&w=3840&q=75)
Transcribed Image Text:A learn-us-east-1-prod-fleet01-xythos.content.blackboardcdn.com
Confidence Interval: How to Find it: The Easy Wa..
Content
Content
https://learn-us-east-1-prod-fleet01-xythos.c...
Answered: For each of the following scenarios...
Independent random samples taken on two university campuses revealed the following
information concerning the average amount of money spent on textbooks during the fall
semester.
University A
50
University B
40
Sample Size
Average Purchase
Standard Deviation (ơ)
$260
$ 20
$250
$ 23
1) Find the point estimate of the difference between the mean amount spent on textbooks between
University A and University B.
2) Find the 95% confidence interval for the difference between the mean amount spent on textbooks
between University A and University B.
3) Find the 99% confidence interval for the difference between the mean amount spent on textbooks
between University A and University B.
You want to determine if students at University A spend on the average a different amount on
textbooks than the students at University B.
4) What null and alternate hypothesis should you use?
5) You want to determine if students at University A spend on the average a different amount on
textbooks than the students at University B. What is the value of the test statistic?
a) 2.10
Expert Solution
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Step 1
Sample sizes n1=50 , n2=40
Sample means X̄1=260 , X̄2=250
?1 =20 ?2=23
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