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In a survey performed in Oklahoma City, 12 people were asked how much they spent on National Sausage Pizza Day. The results from the
In a survey performed in Oklahoma City, 12 people were asked how much they spent on National Sausage Pizza Day. The results from the survey were roughly bell-shaped with a mean of $48 and standard deviation of $3. Construct a confidence interval at a 96% confidence level. Give your answers to two decimal places for each part. You may carry the rounding down throughout the problem. Showing work is REQUIRED. 1. State the value of the estimate of the population mean. 2. Calculate value of the standard error. 3. Determine the value of z or t that you need to use for your confidence interval, and state it. 4. Calculate the margin of error for your interval. MOE = 5. Calculate the 96% confidence interal for the Oklahoma City survey administrators.
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