It has been determined that an individual belonging to a particular age group spends on average $1873 on restaurants and carry out food. Suppose this estimate is based on a sample of 80 individuals, with standard deviation of $550. At 95% confidence, what is the margin of error? Find the 95% confidence interval for the population mean. If the population consists in 92 million individuals, how many would you estimate would spend а. b. с. more than $3000 on restaurants and take out food?

It has been determined that an individual belonging to a particular age group spends on average $1873 on restaurants and carry out food. Suppose this estimate is based on a sample of 80 individuals, with standard deviation of $550. At 95% confidence, what is the margin of error? Find the 95% confidence interval for the population mean. If the population consists in 92 million individuals, how many would you estimate would spend а. b. с. more than $3000 on restaurants and take out food?

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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Question

please answer the question in the attached picture with work shown, thanks!

It has been determined that an individual belonging to a particular age group spends on average $1873
6.
on restaurants and carry out food. Suppose this estimate is based on a sample of 80 individuals, with
standard deviation of $550.
At 95% confidence, what is the margin of error?
Find the 95% confidence interval for the population mean.
If the population consists in 92 million individuals, how many would you estimate would spend
а.
b.
C.
more than $3000 on restaurants and take out food?

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