Statistics II20795 marksNumerical: confidence interval meanEstimation
An effort to estimate the mean amount per customer for dinner at a major Atlanta restaurant, data were collected for a sample of 49 customers and sample mean is found at 24.80. Assume population standard deviation is 5. a. Compute standard error of mean. b. Find 95% confidence interval estimate for
An effort to estimate the mean amount per customer for dinner at a major Atlanta restaurant, data were collected for a sample of 49 customers and sample mean is found at 24.80. Assume population standard deviation is 5. a. Compute standard error of mean. b. Find 95% confidence interval estimate for the population mean. [5]
Parameter Value ------------------ Sample size ($n$) 49 Sample mean ($\bar{x}$) 24.80 Population standard deviation ($\sigma$) 5 Confidence level 95% Since $\sigma$ is known, we use the Z-distribution. --- $$SE = \frac{\sigma}{\sqrt{n}} = \frac{5}{\sqrt{49}} = \frac{5}{7} = 0.7143$$ $$\boxed{SE ...