According to a survey, the average British household is expected to spend 868 on holiday-relatedexpenses during the
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Question:
According to a survey, the average British household is expected to spend £868 on holiday-relatedexpenses during the Christmas period 2013. This amount covers not only gifts, but also food, beverages,and decorations. Assume the study was based on n = 94 randomly sampled households throughoutGreat Britain. Assume that the sample standard deviation was £162.
What is the 90% confidence interval estimate of the population mean amount to be spent during thisperiod?
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