Question

In 2001, the mean household expenditure for energy was $1493, according to data obtained from the U.S. Energy Information Administration. An economist wanted to know whether this amount has changed significantly from its 2001 level. In a random sample of 35 households, he found the mean expenditure (in 2001 dollars) for energy during the most recent year to be $1618, with standard deviation $321.
Construct a 95% confidence interval about the mean energy expenditure. What does the interval imply?


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  • CreatedApril 28, 2015
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