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Question 7: (31 points) People spend on average 80 euros per week for online shopping with variance of 6 euros. Assume the distribution is normal.

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Question 7: (31 points) People spend on average 80 euros per week for online shopping with variance of 6 euros. Assume the distribution is normal. The number of analysed people is set to 50 . Answer the following questions: a. What is the z-value of a person, who spends 74 euros for online shopping? Interpret the meaning of the obtained value. (4 points) b. What is the z-value of a person, who spends 84 euros for online shopping? Interpret the meaning of the obtained value. (4 points) c. Find the proportion of people who spend no more than 74 euros for online shopping. ( 2 points) d. Find the proportion of people who spend more than 84 euros for online shopping. ( 2 points) e. What is the proportion of people who spend between 74 and 84 euros ? (2 points) f. Interpret the meaning of the obtained result in question e. ( 3 points) g. Set the significance level to 5% and find the margin of error. (4 points) h. Interpret the meaning of the margin of error obtained in question g. (3 points) i. Construct a 95% confidence interval for the people's spending for online shopping. (4 points) j. Interpret the meaning of the obtained confidence interval. (3 points)

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