Confidence Interval for the Population Mean

Confidence Interval for the Population Mean

ByHomework Help Classof1

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A small town has a population of 20,000 people. Among these 1,000 regularly visit a popular local bar. A sample of 100 people who visit the bar is surveyed for their annual expenditures in the bar. It is found that on average each person who regularly visits the bar spends about $1500 per year in the bar with a standard deviation of $120. Construct a 99 percent confidence interval around the mean annual expenditure in the bar.

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Publication Date
May 2, 2013
Language
English
Category
Education & Language
Copyright
All Rights Reserved - Standard Copyright License
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By (author): Homework Help Classof1

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PDF

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