Dr. Muk is an economic expert. He studies food expenditure per week for economics students at XYZ
Question:
Dr. Muk is an economic expert. He studies food expenditure per week for economics students at XYZ University. He forms the questionnaire in order to assist him in data analysis. The following data is a weekly expenditure for each economics student. A score above 80 indicates that the expenditure is at the ordinary level. A random sample of 15 students revealed the following level of expenditure.
94 78 83 90 78 99 97 90 97 90 93 94 100 75 84
i. Find point estimate for mean from the data above.
ii. Construct a 95 % percent confidence interval for the population mean.
iii. Is it reasonable to conclude that the economics student has a mean expenditure in the ordinary level, according to Dr. Muk?
Business Statistics
ISBN: 978-0321925831
3rd edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman