SOLUTION: 1750 households in the UK were surveyed. The average weekly expenditure on food was found to be £60. The population standard deviation is £35. Calculate the 99% confidence interval

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Question 859756: 1750 households in the UK were surveyed. The average weekly expenditure on food was found to be £60. The population standard deviation is £35. Calculate the 99% confidence interval for the mean weekly household expenditure on food. Calculate your answers to 1 decimal place and put them in the boxes below.
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

90%	z =1.645

92%	z = 1.751

95%	z = 1.96

98%	z = 2.326

99%	z = 2.576

ME = 2.576%2835%2Fsqrt%281750%29%29

CI: £60.0 -ME < u <  £60.0 + ME