Question: According to a survey by Runzheimer International the average cost
According to a survey by Runzheimer International, the average cost of a fast-food meal (quarter-pound cheese-burger, large fries, medium soft drink, excluding taxes) in Seattle is $4.82. Suppose this figure was based on a sample of 27 different establishments and the standard deviation was $0.37. Construct a 95% confidence interval for the population mean cost for all fast-food meals in Seattle. Assume the costs of a fast-food meal in Seattle are normally distributed. Using the interval as a guide, is it likely that the population mean is really $4.50? Why or why not?
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