According to a survey by Runzheimer International Suppose this figure was based on a sample of 27 d Using the confidence interval as a guide, is it likely Yes, because $4.5 is inside the interval. Yes, because $4.5 is outside the interval. No, because $4.5 is inside the interval. No, because $4.5 is outside the interval.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question
According to a survey by Runzheimer International, the average cost of a fast-food meal (quarter-pound cheeseburger, large fries, medium soft drink, excluding taxes) in Seattle is $4.82.
Suppose this figure was based on a sample of 27 different establishments and the standard deviation was $0.37. Assume the costs of a fast-food meal in Seattle are normally distributed.
Using the confidence interval as a guide, is it likely that the population mean is really $4.50? Why or why not?
Yes, because $4.5 is inside the interval.
Yes, because $4.5 is outside the interval.
No, because $4.5 is inside the interval.
No, because $4.5 is outside the interval.
Transcribed Image Text:According to a survey by Runzheimer International, the average cost of a fast-food meal (quarter-pound cheeseburger, large fries, medium soft drink, excluding taxes) in Seattle is $4.82. Suppose this figure was based on a sample of 27 different establishments and the standard deviation was $0.37. Assume the costs of a fast-food meal in Seattle are normally distributed. Using the confidence interval as a guide, is it likely that the population mean is really $4.50? Why or why not? Yes, because $4.5 is inside the interval. Yes, because $4.5 is outside the interval. No, because $4.5 is inside the interval. No, because $4.5 is outside the interval.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 3 images

Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Means
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman