Assignment:
In a Maritz AmeriPoll survey, 16.6% of 500 males said they spend over $1000 per year on clothing. In a survey of 500 females, 11.8% said they spend over $1000 per year on clothing. In a two-tail test at the 0.01 level of significance, can we conclude that males might not differ from females in their likelihood of spending over $1000 per year on clothing? Determine and interpret the p-value for the test, then construct and interpret the 99% confidence interval for the difference between the population proportions.
Provide complete and step by step solution for the question and show calculations and use formulas.