The concession managers for the Arkansas Travelers (a minor league baseball team located in Little Rock) are
Question:
The concession managers for the Arkansas Travelers
(a minor league baseball team located in Little Rock)
are interested in estimating the average amount spent on food by fans attending the team’s Friday night home games. Suppose a random sample of 36 receipts for food orders was taken from last year’s receipts for Friday night home games with the following food expenditures recorded:
$30.50 $10.63 $3.77 $21.90 $21.95 $9.65 $14.31 $11.39 $25.36 $15.79 $30.88 $12.20 $8.48 $20.70 $28.54 $9.13 $15.54 $14.95 $11.96 $11.91 $8.28 $12.87 $24.26 $21.04 $20.08 $10.08 $25.37 $12.02 $11.61 $11.22 $25.36 $28.07 $17.71 $23.00 $31.79 $17.70
a. Based on the sampled receipts, what is the best point estimate for the mean food expenditures for Friday night home games?
b. Use the sample information to construct a 95%
confidence interval estimate for the true mean expenditures for Friday night home games.
c. Before the sample was taken, the food concessions manager stated that mean food expenditures were about $19.00 per order. Does his statement seem consistent with the results obtained in part b?
Step by Step Answer:
Business Statistics A Decision Making Approach
ISBN: 9780136121015
8th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry, Kent D. Smith