A Halloween costume store manager is interested in estimating the total amount of money customers spent on
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Question:
A Halloween costume store manager is interested in estimating the total amount of money customers spent on costumes that included hats during the two weeks preceding Halloween. To do this, the manager takes a simple random sample of 7 the 1250 peceipts from purchases during this time period. For simplicity,assume each receipt lists only one costume. For each receipt, the store manager notes how much the costume cost and whether or not it contained a hat. The data are shown in the table below.
Receipt Cost Contains Hat
1 $82 1
2 $45 0
3 $23 1
4 $39 0
5 $98 0
6 $49 1
7 $77 0
Give a point estimate and standard error for the total amount of money customers spent on costumes that included hats during the two weeks preceding Halloween.
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