The file FastFood contains the amount that a sample of 15 customers spent for lunch ($) at

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The file FastFood contains the amount that a sample of 15 customers spent for lunch ($) at a fast-food restaurant:
7.10 6.80 5.90 7.42 4.89 6.29 5.83 6.50 8.34 8.30 9.51 6.50 5.52 7.90 9.60


a. Construct a 95% confidence interval estimate for the population mean amount spent for lunch ($) at a fast-food restaurant.

b. Interpret the interval constructed in (a).

c. What assumption must you make about the population distribution in order to construct the confidence interval estimate in (a)?

d. Do you think that the assumption needed in order to construct the confidence interval estimate in (a) is valid? Explain.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Basic Business Statistics Concepts And Applications

ISBN: 9780134684840

14th Edition

Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan

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