Answered: A fast food store offered a lower…

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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A fast food store offered a lower priced combination meal in an effort to attract customers. The store randomly selected 15 customers and recorded the amount they spent on meals while the new offer was in effect. The customers spent an average of $8.50 with a standard deviation of $1.50. If we assume the amount spent is normally distributed and we wish to estimate with 90% confidence, the
true mean amount spent on meals at this store while the offer is in effect, to calculate this what will we substitute in confidence formula

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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