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.

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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.
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