One of the concepts your friends are trying out are gourmetBurgers. After having a large group of potential student customers sample their burgers and collecting information on how much each one was willing to pay for the meal, the summary statistics were computed as follows:

n=85x-bar=$8.32s=$3.11

Note:The summary statistics may change for different attempts at the lab.

DIRECTIONS

a.GET RESULTS: Construct a 95% confidence interval for?

and conduct a significance test for?

using artofstat or Minitab (pick either artofstat or Minitab to do the 95% CI and significance test).Directions for these are given below.

ART-of-STAT:

95% Confidence Interval Directions

1.Go to artofstat.com > Web Apps >Inference for a Mean(Links to an external site.)

.

2.In the "Enter Data:" drop down menu, select Summary Statistics.

3.In the "Name of Variable:" box put Price.

4.In the "Sample Size:" box input the value for n.

5.In the "Sample Mean:" box input the value forx.

6.In the "Sample Std. Dev.:" box input the value for s.

7.Confirm that the "Type of Inference:" is set to Confidence Interval, that the "Confidence Level:" slider is at 95% and that "Interval, Lower or Upper Bound?" is set to Interval.

b.CI: Interpret the 95% confidence interval from part a.Write your interpretation on the same document.

c.P-VALUE: Interpret the p-value of the significance test from part a.Write your interpretation on the same document.