SOLUTION: In an effort to estimate the mean amount spent per customer for dinner at an Koket restaurant, data were collected for a sample of 49 customers. The data collected are shown in the
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Question 1161393: In an effort to estimate the mean amount spent per customer for dinner at an Koket restaurant, data were collected for a sample of 49 customers. The data collected are shown in the CD file named Restaurant. Based upon past studies the population standard deviation is assumed known with σ 2 birr55.
a. At 95% confidence, what is the margin of error?
b. Develop a 95% confidence interval estimate of the mean amount spent for dinner