HOMEWORK 7 - STAT 3360 SPRING 2017 DUE BY OCTOBER 26 [SECTION 002] I\" BY OCTOBER 27 [SECTION 1103] PLEASE, SUBMIT THIS DOCUMENT AND SHOW YOUR FIRST AND LAST NAME BELOW! STAPLE OR PAPERCLIP YOUR WORK, PLEASE! 3. [20POINTS=3+2+5+3+3+4] A SAMPLE OF 25 FAMILIES WAS DRAWN FOR ANALYSIS OF THE AVERAGE GROCERY SPENDING. ASSUME THAT THE INDIVIDUAL WEEKLY RECORDS ARE NORMALLY DISTRIBUTED , WITH THE UNKNOWN POPULATION AVERAGE AND POPULATION STANDARD DEVIATION OF $40. SAMPLE SUMMARIES WERE: {SAMPLE MEAN) = $154 AND (SAMPLE STANDARD DEVIATIDN) = $50. ESTIMATE THE POPULATION AVERAGE WITH 95% CONPIDENCE. SHOW THE FOLLOWING ELEMENTS OF YOUR DECISIONMAKING PROCESS. CRITICAL VALUE MID-POINT MARGIN OP ERROR UPPER CONFIDENCE LIMIT LOWER CONBIDENCE LIMIT WIDTH OF THE INTERVAL