Reviewing his records, a grocery store manager finds that the amount of money spent shopping on Friday
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Reviewing his records, a grocery store manager finds that the amount of money spent shopping on Friday evenings is normally distributed with a standard deviation of $22. A random sample of 5 customers reveals the following amounts spent shopping on Friday night: $125, $72, $15, $88, and $96.
(a) Find a 95 % confidence interval for the mean amount of money spent shopping.
(b) Find a 90 % confidence interval for the mean amount of money spent shopping. Compare your answer to the confidence interval you computed in part (a). Which is larger?
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Related Book For
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
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