I sampled 10 downtown Chicago restaurants for the price of their most expensive meal on the menu. Here are the prices: $45, $80, $70, $70, $60, $65, $80, $60, $50, $90 Construct a 99% confidence interval for the mean price of the most expensive meal at a downtown Chicago restaurant. Assume the population is approximately normal. Write a sentence using that confidence interval   Using the values in the previous question, compute a 95% confidence interval for the standard deviation of the most expensive price for a mean in downtown Chicago.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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  • I sampled 10 downtown Chicago restaurants for the price of their most expensive meal on the menu. Here are the prices: $45, $80, $70, $70, $60, $65, $80, $60, $50, $90
    1. Construct a 99% confidence interval for the mean price of the most expensive meal at a downtown Chicago restaurant. Assume the population is approximately normal.
    2. Write a sentence using that confidence interval

 

  • Using the values in the previous question, compute a 95% confidence interval for the standard deviation of the most expensive price for a mean in downtown Chicago.
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