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A sample of 300 orders for? take-out food at a local pizzeria found that the average cost of an order was ?$24 with s=$13. ?(a)
A sample of 300 orders for? take-out food at a local pizzeria found that the average cost of an order was ?$24 with s=$13.
?(a) Find the margin of? error, if we use a? 95% confidence? interval, for the average cost of an order.
?(b) Interpret for management the margin of error.
?(c) If we need to be 99% confident, does the confidence interval become wider or? narrower?
?(d) Find the 99?% confidence interval.
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