Question

5. A random sample of 625 customers of the restaurant xyz revealed the average monthly expenses in the amount of € 43.50 with a standard deviation of 19.20. a) Assuming that the dining expenses are normally distributed, construct a 95% confidence interval for the population mean expenses among xyz consumers( keep 2 decimals in your answer) b) How confident are you that the estimated 43.50 will be within 1.50 of the population mean? c) What would your margin of error be if you wanted to be 84% confident when estimating the population mean?

Answer 1

a) a 95% confidence interval for the population mean expenses among xyz consumers

b)

c)