The mean cost of a meal for two in a mid-range restaurant in Tokyo is $40 (Numbeo.com

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The mean cost of a meal for two in a mid-range restaurant in Tokyo is $40 (Numbeo.com website, December 14, 2014). How do prices for comparable meals in Hong Kong compare? The Data file Hong Kong Meals contains the costs for a sample of 42 recent meals for two in Hong Kong mid-range restaurants.

a. With 95% confidence, what is the margin of error?

b. What is the 95% confidence interval estimate of the population mean?

c. How do prices for meals for two in mid-range restaurants in Hong Kong compare to prices for comparable meals in Tokyo restaurants?

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Statistics For Business & Economics

ISBN: 9781305585317

13th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

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