he 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 47 male consumers was $135.67, and the average expenditure in a sample survey of 32 female consumers was $68.64. Based on past surveys, the standard deviation for male consumers is assumed to be $36, and the standard deviation for female consumers is assumed to be $18.
The statistical software output for this problem is:
Hence,
a) Point estimate = 67.01
b) Margin of error = (82.8456 - 51.2144)/2 = 15.82
c) 99% confidence interval:
(51.21, 82.85)
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