Question

Poor millennials ~ Skyrocketing cost of living and crippling student debt have made it much more difficult for millennials to accumulate wealth. A random sample of 60 baby boomer households and a random sample of 76 millennial households were selected. The summary statistics are given in the table below in thousands of dollars. Population/Group Generation Mean Household wealth Standard Deviation 1 Baby Boomers 1.2 0.027 2 Millennials 0.12 0.020 Kanye, an economics student, wants to estimate the difference between the actual mean household wealth of baby boomers and millennials.

A) What is the lower bound for a 90% confidence interval for the difference between the population means? Give your answer to 4 decimal places.

B) What is the upper bound for a 90% confidence interval for the difference between the population means? Give your answer to 4 decimal places.

Please a detailed explanation on how to do this on TI 84 plus!! Thank you

Answer 1