Some fast-food chains offer a lower-priced combination meal in an effort to attract budget-conscious customers. One chain

Question:

Some fast-food chains offer a lower-priced combination meal in an effort to attract budget-conscious customers. One chain test marketed a burger, fries, and drink combination for $4.71. The weekly sales volume for these meals was impressive. Suppose the chain wants to estimate the average amount its customers spent on a meal at their restaurant while this combination offer was in effect. An analyst gathers data from 28 randomly selected customers. The following data represent the sample meal totals.image


Use these data to construct a 90% confidence interval to estimate the population mean value. Assume the amounts spent are normally distributed.

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

Step by Step Answer:

Related Book For  answer-question

Business Statistics For Contemporary Decision Making

ISBN: 9781119577621

3rd Canadian Edition

Authors: Ken Black, Ignacio Castillo

Question Posted: