In an effort to estimate the mean amount spent per customer for dinner at a major Atlanta restaurant, data were collected from 64 randomly selected customers.  The sample mean was calculated as $27.75 with a sample standard deviation of $4.  We wish to develop a 91% confidence interval for the mean amount spent per customer for dinner at this restaurant.  Assume that the standard deviation of the amounts spent by ALL customers is $4.30. Fill in the missing pieces of the 91% confidence interval. Note:  we assume the standard deviation of the amounts spent by ALL customers is $4.30. Since we know the standard deviation of the population, this allows us to use the standard normal distribution. What is  z , and CF  σσ is 4.3 x is 27.75 and  n is 64

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.