The Economist collects data each year on the price of a Big Mac in various countries around

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The Economist collects data each year on the price of a Big Mac in various countries around the world. A sample of McDonald?s restaurants in Europe in 2016 resulted in the following Big Mac prices (after conversion to U.S. dollars):

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a. What characteristic of the sample indicates that the methods based on the t distribution may not be appropriate?

b. Use the Shiny app given output to estimate the mean price of a Big Mac in Europe using a 95% bootstrap confidence interval.

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Related Book For  answer-question

Introduction To Statistics And Data Analysis

ISBN: 9781337793612

6th Edition

Authors: Roxy Peck, Chris Olsen, Tom Short

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