Many college students enjoy eating pizza, but college is expensive, so it is imp

Question

Many college students enjoy eating pizza, but college is expensive, so it is important to get a good deal on the pizza you eat. A very savvy statistics student investigated the cost per square inch for a random sample of 5 pizza shops. The student looked up the prices online and found that for a delivered large 1-topping pizza, the price per square inch fluctuated considerably. Here are the results. The mean cost per square inch was 0.18 with a sample standard deviation of 0.0332. Based upon these sample data, we can be 95% confident that the true mean price per square inch for a large 1-topping pizza is between the lower value of _____________and the upper value of ________________.

Explanation / Answer

The formula for estimation is:

? = M ± t(sM)

where:

M = sample mean
t = t statistic determined by confidence level
sM = standard error = ?(s2/n)

M = 0.18
t = 2.78
sM = ?(0.03322/5) = 0.01

? = M ± t(sM)
? = 0.18 ± 2.78*0.01
? = 0.18 ± 0.0412

0.1388, 0.2212

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.