Population mean expenditure for males and females

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Reference no: EM132231024

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 42 male consumers was $135.67, and the average expenditure in a sample survey of 34 female consumers was $68.64. 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 $24. a) 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)? b) At 99% confidence, what is the margin of error (to 2 decimals)? c) Develop a 99% confidence interval for the difference between the two population means (to 2 decimals). Use z-table.

Reference no: EM132231024

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