Question: 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.
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