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In 2017, Americans spent a record-high $9.1 billion on Halloween- related purchases (the balance website). Sample data showing the amount, in dollars, that 16 adults spent on a Halloween costume are as follows. 13 69 23 65 32 36 31 43 52 17 13 95 46 32 66 24 a. What is the estimate of the population mean amount adults spend on a Halloween costume (to 2 decimals)? $ 41.06 b. What is the sample standard deviation (to 2 decimals)? $ c. Provide a 95% confidence interval estimate of the population standard deviation for the amount adults spend on a Halloween costume (to 2 decimals). Use Table 3 of Appendix B. $ 17.14 ≤0≤ $

In 2017, Americans spent a record-high $9.1 billion on Halloween- related purchases (the balance website). Sample data showing the amount, in dollars, that 16 adults spent on a Halloween costume are as follows. 13 69 23 65 32 36 31 43 52 17 13 95 46 32 66 24 a. What is the estimate of the population mean amount adults spend on a Halloween costume (to 2 decimals)? $ 41.06 b. What is the sample standard deviation (to 2 decimals)? $ c. Provide a 95% confidence interval estimate of the population standard deviation for the amount adults spend on a Halloween costume (to 2 decimals). Use Table 3 of Appendix B. $ 17.14 ≤0≤ $

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
ChapterD: The Expenditure-output Model
Section: Chapter Questions
Problem 21CTQ: Exercise D21 What are some reasons that the economy might be in a recession, and what is the...
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In 2017, Americans spent a record-high $9.1 billion on Halloween- related purchases (the balance website). Sample data showing the amount, in dollars, that 16 adults spent on a Halloween costume are as follows. 13 69 23 65 32 36 31 43 52 17 13 95 46 32 66 24 a. What is the estimate of the population mean amount adults spend on a Halloween costume (to 2 decimals)? $ 41.06 b. What is the sample standard deviation (to 2 decimals)? $ c. Provide a 95% confidence interval estimate of the population standard deviation for the amount adults spend on a Halloween costume (to 2 decimals). Use Table 3 of Appendix B. $ 17.14 ≤0≤ $
Transcribed Image Text:In 2017, Americans spent a record-high $9.1 billion on Halloween- related purchases (the balance website). Sample data showing the amount, in dollars, that 16 adults spent on a Halloween costume are as follows. 13 69 23 65 32 36 31 43 52 17 13 95 46 32 66 24 a. What is the estimate of the population mean amount adults spend on a Halloween costume (to 2 decimals)? $ 41.06 b. What is the sample standard deviation (to 2 decimals)? $ c. Provide a 95% confidence interval estimate of the population standard deviation for the amount adults spend on a Halloween costume (to 2 decimals). Use Table 3 of Appendix B. $ 17.14 ≤0≤ $
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