Again it is related to my trip to Vancouver: Fly to Vancouver and to have a vacation is not a cheap trip. I would like to know the average USD amount two people (a couple) spend, the total amount, including Airfares, Hotel, Car Rental, Meals, and all other expenses. So again, I randomly ask n 98 couples of tourists in the Airport: how much money each couple spent in the whole trip since they, like us, are ready to fly back home. I then put each individual couple's $ amount into my Excel sheet in one column. I actually calculated the sample mean = 3,031 and sample Standard Deviation = 361, assume I want a 95% confidence interval. Tell me the lower confidence level with 2 decimals (Dollar amount), ex. if the answer is $1256.786, write 1256.79. Tip: Use the template you created following my video.
Again it is related to my trip to Vancouver:
Fly to Vancouver and to have a vacation is not a cheap trip. I would like to know the average USD amount two people (a couple) spend, the total amount, including Airfares, Hotel, Car Rental, Meals, and all other expenses. So again, I randomly ask n 98 couples of tourists in the Airport: how much money each couple spent in the whole trip since they, like us, are ready to fly back home.
I then put each individual couple's $ amount into my Excel sheet in one column. I actually calculated the sample
Tell me the lower confidence level with 2 decimals (Dollar amount), ex. if the answer is $1256.786, write 1256.79.
Tip: Use the template you created following my video.
Solution:
Given information:
n = 98 Sample size of couples
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