# SOLUTION: A study was conducted to estimate the mean amount spent on birthday gifts for a typical family having two children. A sample of 150 was taken, and the mean amount spent was \$225. A

Algebra ->  Algebra  -> Probability-and-statistics -> SOLUTION: A study was conducted to estimate the mean amount spent on birthday gifts for a typical family having two children. A sample of 150 was taken, and the mean amount spent was \$225. A      Log On

 Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations! Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

 Algebra: Probability and statistics Solvers Lessons Answers archive Quiz In Depth

 Click here to see ALL problems on Probability-and-statistics Question 233773: A study was conducted to estimate the mean amount spent on birthday gifts for a typical family having two children. A sample of 150 was taken, and the mean amount spent was \$225. Assuming a standard deviation equal to \$50, find the 95% confidence interval for μ, the mean for all such families (show all work). Answer by stanbon(57282)   (Show Source): You can put this solution on YOUR website!A study was conducted to estimate the mean amount spent on birthday gifts for a typical family having two children. A sample of 150 was taken, and the mean amount spent was \$225. Assuming a standard deviation equal to \$50, find the 95% confidence interval for μ, the mean for all such families (show all work). -------------------- sample mean: 225 standard error: 1.96*50/(sqrt(150) = 8 ---------------------- 95% CI: 225-8 < u < 225+8 Ans: (217,233) ==================== Cheers, Stan H.