The 90 million Americans of age 50 and over control 50 percent of all discretionary income. AARP estimated that the average annual expenditure on restaurants and carryout food was 1,870 for individuals in this age group. Suppose this estimate is based on a sample of 80 persons and that the sample standard deviation is 500 . Round your answers to the nearest whole numbers. a. At 99% confidence, what is the margin of error? b. What is the 99% confidence interval for the population mean amount spent on restaurants and carryout food? , c. What is your estimate of the total amount spent by Americans of age 50 and over on restaurants and carryout food? million
The 90 million Americans of age 50 and over control 50 percent of all discretionary income. AARP estimated that the average annual expenditure on restaurants and carryout food was 1,870 for individuals in this age group. Suppose this estimate is based on a sample of 80 persons and that the sample standard deviation is 500 . Round your answers to the nearest whole numbers. a. At 99% confidence, what is the margin of error? b. What is the 99% confidence interval for the population mean amount spent on restaurants and carryout food? , c. What is your estimate of the total amount spent by Americans of age 50 and over on restaurants and carryout food? million
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The 90 million Americans of age 50 and over control 50 percent of all discretionary income. AARP estimated that the average annual expenditure on restaurants and carryout food was 1,870 for individuals in this age group. Suppose this estimate is based on a sample of 80 persons and that the sample standard deviation is 500 . Round your answers to the nearest whole numbers. a. At 99% confidence, what is the margin of error?
b. What is the 99% confidence interval for the population mean amount spent on restaurants and carryout food? , c. What is your estimate of the total amount spent by Americans of age 50 and over on restaurants and carryout food? million |
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