The USA Today reports that the average expenditure on Valentine's Day is $100.89. Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 56 male consumers was $131.24 and the average expenditure in a sample survey of 36 female consumers was $69.65. 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 $14. The value of x=2.576 1. 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)? 2. At 99% confidence, what is the margin of error (to 2 decimals)? 3. Develop a 99% confidence interval for the difference between the two population means (to 2 decimals). ( ____ , ____ )
The USA Today reports that the average expenditure on Valentine's Day is $100.89. Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 56 male consumers was $131.24 and the average expenditure in a sample survey of 36 female consumers was $69.65. 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 $14. The value of x=2.576
1. What is the point estimate of the difference between the population
2. At 99% confidence, what is the margin of error (to 2 decimals)?
3. Develop a 99% confidence interval for the difference between the two population means (to 2 decimals).
( ____ , ____ )
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