In an effort to estimate the mean amount spent per customer for dinner at a major Atlanta restaurant, data were collected from 64 randomly selected customers. The sample mean was calculated as $27.75 with a sample standard deviation of $4. We wish to develop a 91% confidence interval for the mean amount spent per customer for dinner at this restaurant. Assume that the standard deviation of the amounts spent by ALL customers is $4.30. The resulting 91% confidence interval is given by 27.75±0.91127.75±0.911 Based upon the above confidence interval, can it be concluded – with at least 91% confidence – that the average customer spends more than $25 at the restaurant? AC YES NO ["", ""] and Why?
In an effort to estimate the
The resulting 91% confidence interval is given by 27.75±0.91127.75±0.911
Based upon the above confidence interval, can it be concluded – with at least 91% confidence – that the average customer spends more than $25 at the restaurant? AC YES NO ["", ""] and Why? ["", "", "", ""]
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