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Question: A research firm conducted a survey to determine the mean amount people spend at a popular coffee shop during a week. They found the amounts spent per week followed a normal distribution, with a population standard deviation of $4. A sample of 49 customers revealed that the mean is $25. (1) What is the 95% confidence interval estimate of µ? (2) What is the
A research firm conducted a survey to determine the mean amount people spend at a popular coffee shop during a week. They found the amounts spent per week followed a normal distribution, with a population standard deviation of $4. A sample of 49 customers revealed that the mean is $25.
(1) What is the 95% confidence interval estimate of µ?
(2) What is the 99% confidence interval estimate of µ
standard deviation (s) =$4
sample size (n) = 49
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