1. Collette is self-employed, selling items at Home Interior parties. She wants to estimate the average amount a client spends at each party. A random sample of 35 clients' receipts gave a sample mean of $34.70 and historically we know the population standard deviation of spending at these parties to be $4.85. a. Explain why you may assume your data is normally distributed. b. Find a 90% confidence interval for the average amount any given client can be expected to spend at a party. C. Write a brief explanation of the meaning of the confidence interval in the context of this problem
1. Collette is self-employed, selling items at Home Interior parties. She wants to estimate the average amount a client spends at each party. A random sample of 35 clients' receipts gave a sample mean of $34.70 and historically we know the population standard deviation of spending at these parties to be $4.85. a. Explain why you may assume your data is normally distributed. b. Find a 90% confidence interval for the average amount any given client can be expected to spend at a party. C. Write a brief explanation of the meaning of the confidence interval in the context of this problem
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:1. Collette is self-employed, selling items at Home Interior parties. She wants to
estimate the average amount a client spends at each party. A random sample of
35 clients' receipts gave a sample mean of $34.70 and historically we know the
population standard deviation of spending at these parties to be $4.85.
a.
Explain why you may assume your data is normally distributed.
b.
Find a 90% confidence interval for the average amount any given
client can be expected to spend at a party.
C.
Write a brief explanation of the meaning of the confidence interval
in the context of this problem
d.
For a party with 35 clients, use part (b) to estimate a range of
dollar values for Collette's total sales at that party.
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