In: Statistics and Probability
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 43 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 $30, and the standard deviation for female consumers is assumed to be $19.
a, b, c.
Point estimate = 67.03
Margin of error = 14.79
99% CI is ( 52.24 , 81.82 )
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