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Need help figuring out this entire problem. Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. These
Need help figuring out this entire problem.
Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. These data are contained in the file named Houston. Based upon past studies the population standard deviation is known with o = $3. Click on the datafile logo to reference the data. DATA file Round your answers to two decimal places. If needed, use the critical value with three decimal places. a. At 99% confidence, what is the margin of error? $ b. Develop a 99% confidence interval estimate of the mean amount spent for lunch. $ to $ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 Amount 20.50 14.63 23.77 29.96 29.49 32.70 9.20 20.89 28.87 15.78 18.16 12.16 11.22 16.43 17.66 9.59 18.89 19.88 23.11 20.11 20.34 20.08 30.36 21.79 21.18 19.22 34.13 27.49 36.55 18.37 32.27 12.63 25.53 27.71 33.81 21.79 19.16 26.35 20.01 26.85 13.63 17.22 13.17 20.12 22.11 22.47 20.36 35.47 11.85 17.88 6.83 30.99 14.62 18.38 26.85 25.10 27.55 25.87 14.37 15.61 26.46 24.24 16.66 20.85 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. These data are contained in the file named Houston. Based upon past studies the population standard deviation is known with o = $3. Click on the datafile logo to reference the data. DATA file Round your answers to two decimal places. If needed, use the critical value with three decimal places. a. At 99% confidence, what is the margin of error? $ b. Develop a 99% confidence interval estimate of the mean amount spent for lunch. $ to $ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 Amount 20.50 14.63 23.77 29.96 29.49 32.70 9.20 20.89 28.87 15.78 18.16 12.16 11.22 16.43 17.66 9.59 18.89 19.88 23.11 20.11 20.34 20.08 30.36 21.79 21.18 19.22 34.13 27.49 36.55 18.37 32.27 12.63 25.53 27.71 33.81 21.79 19.16 26.35 20.01 26.85 13.63 17.22 13.17 20.12 22.11 22.47 20.36 35.47 11.85 17.88 6.83 30.99 14.62 18.38 26.85 25.10 27.55 25.87 14.37 15.61 26.46 24.24 16.66 20.85 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65Step by Step Solution
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