Dining expenses. A study had been conducted on the money spent on dinner from a random sample

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Dining expenses. A study had been conducted on the money spent on dinner from a random sample of 30 customers at a local restaurant, which determined an average of $4.39. The confidence interval for the mean price of dinner has a marginal error of {$2. The staff of the restaurant wrote the following conclusions. Did anyone interpret the interval correctly? Explain any misinterpretation.

a) 95% of the customers studied spent in between $2.49 and

$6.39.

b) We are 95% sure that a customer who dined in for dinner will spend between $2.49 and $6.39.

c) We are 95% sure that mean price of dinner among the customers in this study was between $2.49 and $6.39.

d) The average price of dinner of customers paid is between

$2.49 and $6.39.

e) If the money spent in dinner is collected from another restaurant, there is a 95% chance that the average price of dinner will be between $2.49 and $6.39.

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Business Statistics

ISBN: 9781292269313

4th Global Edition

Authors: Norean Sharpe, Richard De Veaux, Paul Velleman

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