The 91 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 $1,869 for individuals in this age group. Suppose this estimate is based on a sample of 85 persons and that the sample standard deviation is $590. Round your answers to the nearest whole numbers.a. At 95% confidence, what is the margin of error?[ ]b. What is the 95% confidence interval for the population mean amount spent on restaurants and carryout food?( [ ], [ ] )c. What is your estimate of the total amount spent by Americans of age 50 and over on restaurants and carryout food?$[ ] millionThere are no graphs or diagrams in this text. Each section includes a red "X" symbol next to blank boxes, indicating where answers should be filled in.

a. Suppose µ is the population mean amount spent on restaurants and carryout food.

Answered: The 91 million Americans of age 50 and…

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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A. Find the sample meanB. Find the sample standard deviation C. Construct a 98% confidence interval for the population mean(please show what numbers you are putting into the formula for part b)
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