Data were collected on the amount spent by 64 customers for lunch at a major Hou
ID: 3155209 • Letter: D
Question
Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. These data are contained in the file named Houston. Based upon past studies the population standard deviation is known with sigma = $11. Click on the webfile logo to reference the data. Round your answers to two decimal places. Use the critical value with three decimal places. a. At 99% confidence, what is the margin of error? $ b. Develop a 99% confidence interval estimate of the mean amount spent for lunch.Explanation / Answer
a.At 99% confidence the margin of error is:
z(0.99)*sigma/root over n
=2.58*11/root over 64
=3.55
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