Chapter 7.2, Problem 21EC

Parking Meter Revenue A one-sided confidence interval can be found for a mean by using

$\mu >X-t_{\alpha }\frac{s}{\sqrt{n}}\text{or}\mu {\text{>X+t}}_{\alpha }\frac{s}{\sqrt{n}}$

where t_α is the value found under the row labeled One tail. Find two one-sided 95% confidence intervals of the population mean for the data shown, and interpret the answers. The data represent the daily revenues in dollars from 20 parking meters in a small municipality.

2.60        1.05        2.45        2.90

1.30        3.10        2.35        2.00

2.40        2.35        2.40        1.95

2.80        2.50        2.10        1.75

1.00        2.75        1.80        1.95