Suppose a company from the United States does considerable business
Suppose a company from the United States does considerable business in the city of Johannesburg, South Africa and wishes to establish a per diem rate for employee travel to that city. The company researcher is assigned this task, and in an effort to determine this figure, she obtains a random sample of 14 business travelers staying in Johannesburg. The result is the data presented below. Use these data to construct a 98% confidence interval to estimate the average per diem expense for business people traveling to Johannesburg. What is the point estimate? Assume per diem rates for any locale are approximately normallydistributed.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help