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The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006)....

The average expenditure on Valentine's Day was expected to be $100.89 (USA Today, February 13, 2006). Do male and female consumers differ in the amounts they spend? The average expenditure in a sample survey of 40 male consumers was $140, and the average expenditure in a sample survey of 34 female consumers was $69. Based on past surveys, the standard deviation for male consumers is assumed to be $33, and the standard deviation for female consumers is assumed to be $20. The z value is 2.576 .

Round your answers to 2 decimal places.

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.

Math   Statistics-And-Probability   
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Answer #1

a) point estimate of the difference between the population mean expenditure for males and the population mean expenditure for females =71.00

b)

margin of error =16.08

c)

99% confidence interval for the difference between the two population means =54.92 ; 87.08

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