Statistics of mean difference-specific example

Reference no: EM13104298

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 $135.67, and the average expenditure in a sample survey of 30 female consumers was $68.64. 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 $20.

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.

Reference no: EM13104298

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