Confidence Interval for the Population Mean

Nonfiction, Social & Cultural Studies, Social Science, Statistics
Cover of the book Confidence Interval for the Population Mean by Homework Help Classof1, Classof1
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Author: Homework Help Classof1 ISBN: 1230000129648
Publisher: Classof1 Publication: May 2, 2013
Imprint: Language: English
Author: Homework Help Classof1
ISBN: 1230000129648
Publisher: Classof1
Publication: May 2, 2013
Imprint:
Language: English

A small town has a population of 20,000 people.  Among these 1,000 regularly visit a popular local bar. A sample of 100 people who visit the bar is surveyed for their annual expenditures in the bar. It is found that on average each person who regularly visits the bar spends about $1500 per year in the bar with a standard deviation of $120. Construct a 99 percent confidence interval around the mean annual expenditure in the bar.

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A small town has a population of 20,000 people.  Among these 1,000 regularly visit a popular local bar. A sample of 100 people who visit the bar is surveyed for their annual expenditures in the bar. It is found that on average each person who regularly visits the bar spends about $1500 per year in the bar with a standard deviation of $120. Construct a 99 percent confidence interval around the mean annual expenditure in the bar.

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