Meal prices at the Finer Diner are normally disistributed with an average price of $8.50 and a
Question:
Meal prices at the Finer Diner are normally disistributed with an average price of $8.50 and a standard deviation of $0.75. Find the prbability that
a) a meal chosen at random is priced above $11.00
b) a meal chosen at random priced below $6.00.
On Tuesday nights when surf and turf is offered as the nightly special, the average meal price jumps to $9.50. Considering that the standard deviation remains the same, calculate the probabilities above with this new average price. A local consultant randomly selects a sample of 36 meals whose mean price is determined to be $8.75. Assuming that o+ $0.75, calculate a 95% confidence interval for the population mean price. Format data in microsoft excel spreadsheet. Arrange data and findings in a manner that is easily understood.
Elementary Statistics Picturing the World
ISBN: 978-0321911216
6th edition
Authors: Ron Larson, Betsy Farber