In 2001, the mean household expenditure for energy was $1493, according to data obtained from the U.S.

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?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamentals Of Statistics

ISBN: 9780321844606

4th Edition

Authors: Michael Sullivan III

Question Posted: