In a sample of 81 U.S. adults aged 18-24 who celebrate Halloween, the mean amount spent on a costume was $40.35 with a standard deviation of $16.8. Round answers to at least 4 decimal places.a) What parameter are we estimating?      b) We can work this problem because:     c) What is the point estimate of that parameter?      d) What is the standard deviation of the sampling distribution for the sample means? e) Find the margin of error for a 90% confidence interval for the true average amount spent on a costume. f) We are 90% confident that the true average amount spent on a Halloween costume for U.S. adults aged 18-24 is between $____ and $_____.   Hello, copuld you please help me understand this? please show detail so I can understand . Thank you very much!

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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In a sample of 81 U.S. adults aged 18-24 who celebrate Halloween, the mean amount spent on a costume was $40.35 with a standard deviation of $16.8. Round answers to at least 4 decimal places.
a) What parameter are we estimating?      
b) We can work this problem because:     
c) What is the point estimate of that parameter?      
d) What is the standard deviation of the sampling distribution for the sample means? 
e) Find the margin of error for a 90% confidence interval for the true average amount spent on a costume. 
f) We are 90% confident that the true average amount spent on a Halloween costume for U.S. adults aged 18-24 is between $____ and $_____.

 

Hello, copuld you please help me understand this? please show detail so I can understand . Thank you very much! 

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