Some fast-food chains offer a lower-priced combination meal in an effort to attract budget-conscious customers. One chain
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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 a drink combination for $1.71.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.
Use these data to construct a 90% confidence interval to estimate the population mean value. Assume the amounts spent are normally distributed.
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Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 978-1118749647
8th edition
Authors: Black Ken
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