A sample of 300 orders for take-out food at a local pizzeria found that the average cost
Question:
(a) Find the margin of error for the average cost of an order.
(b) Interpret for management the margin of error.
(c) If we need to be 99% confident, does the confidence interval become wider or narrower?
(d) Find the 99% confidence interval for the average cost of an order.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Statistics For Business Decision Making And Analysis
ISBN: 9780321890269
2nd Edition
Authors: Robert Stine, Dean Foster
Question Posted: