7) Joseph is the manager at a restaurant. He wants to estimate the average amount a customerspends per visit. A random sample of 25 customers receipts had a mean of = $49 and$4.5. Find a 95% confidence interval for the average spent by all thestandard deviation s =customers. Assume x has a distribution that is approximately normal.a) Based on the data, what distribution should be used?b) Use the appropriate formula to find the maximal error: E =c) Write the confidence interval:d) Interpret your result:

The summary of statistics is, x¯=49,s=4.5,n=25 (a) The distribution is used in this problem is, t-distribution Reason: Since the population standard deviation is unknown and the sample size is small (b) The formula for margin of error is,The value of margin of error is, (c) The 95% confidence interval for true mean is, Therefore, the required confidence interval is (47.142 and 50.858) (d) Interpretation: One can be 95% confident that the average amount of a customer spends per visit is lies between 47.142 and 50.858.

Math

Statistics

7) Joseph is the manager at a restaurant. He wants to estimate the average amount a customer $49 and spends per visit. A random sample of 25 customers receipts had a mean of x = standard deviation s = $4.5. Find a 95% confidence interval for the average spent by all the customers. Assume x has a distribution that is approximately normal. a) Based on the data, what distribution should be used? b) Use the appropriate formula to find the maximal error: E = c) Write the confidence interval: d) Interpret your result:

7) Joseph is the manager at a restaurant. He wants to estimate the average amount a customer $49 and spends per visit. A random sample of 25 customers receipts had a mean of x = standard deviation s = $4.5. Find a 95% confidence interval for the average spent by all the customers. Assume x has a distribution that is approximately normal. a) Based on the data, what distribution should be used? b) Use the appropriate formula to find the maximal error: E = c) Write the confidence interval: d) Interpret your result:

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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