Question: A restaurant is trying to decide how to target its
A restaurant is trying to decide how to target its marketing. The owner thinks that diners on business expense accounts typically spend more on food and wine than do other diners. The restaurant takes a random sample of 40 diners who pay with corporate credit cards. The average bill (per person) is $68.52, with a standard deviation of $14.89. Construct a 98% confidence interval estimate of the average amount spent (per person) in this restaurant by diners with business expense accounts. You may assume that the spending is normally distributed.
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