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The USA Today reports that the average expenditure on Valentine's Day is $100.89. Do male and...

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Basic Math

The USA Today reports that the average expenditure onValentine's Day is $100.89. Do male and female consumers differ inthe amounts they spend? The average expenditure in a sample surveyof 40 male consumers was $135.67, and the average expenditure in asample survey of 37 female consumers was $68.64. Based on pastsurveys, the standard deviation for male consumers is assumed to be$38, and the standard deviation for female consumers is assumed tobe $19.

  1. What is the point estimate of the difference between thepopulation mean expenditure for males and the population meanexpenditure for females (to 2 decimals)?
  2. At 99% confidence, what is the margin of error (to 2decimals)?
  3. Develop a 99% confidence interval for the difference betweenthe two population means (to 2 decimals). Usez-table.
    (  ,   )

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