Data 2.12 on page 119 describes information from a sample of 157 restaurant bills collected at the
Question:
Data 2.12 on page 119 describes information from a sample of 157 restaurant bills collected at the First Crush bistro. The data is available in RestaurantTips. Create a bootstrap distribution using this data and find and interpret a 95% confidence interval for the average tip left at this restaurant. Find the confidence interval two ways: using the standard error and using percentiles. Compare your results.
Data 2.12 on page 119
The owner of a bistro called First Crush in Potsdam, New York, is interested in studying the tipping patterns of its patrons. He collected restaurant bills over a two-week period that he believes provide a good sample of his customers. The data from 157 bills are stored in RestaurantTips and include the amount of the bill, size of the tip, percentage tip, number of customers in the group, whether or not a credit card was used, day of the week, and a coded identity of the server.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Statistics, Enhanced Unlocking The Power Of Data
ISBN: 9781119308843
2nd Edition
Authors: Robin H Lock, Patti Frazer Lock, Kari Lock Morgan, Eric F Lock, Dennis F Lock