Confidence interval for the weekly average expenditure

Assignment Help Basic Statistics

Reference no: EM13824174

Based on a survey of 1,000 adults by Greenfield Online and resported in a May 2009 USA Today Snapshot, adults 24 years of age and under spend a weekly average of $35 on fast food. If 200 of the adults surveyed were in the age catetory of 24 and under and they provided a standard deviation of $14.50, construct a 95% confidence interval for the weekly average expenditure on fast food for adults 24 years of age and under. Assume fast food weekly expenditures are normally distributed.

Reference no: EM13824174

Questions Cloud

Stockholders equity section of the balance sheet : Early in 2015, Herndon Industries was formed with authorization to issue 250,000 shares of $10 par value common stock and 30,000 shares of $100 par value cumulative preferred stock. Prepare the stockholders’ equity section of the balance sheet (use e..

Wait in line precinct : How long on average did a voter have to wait in line precinct at A in 2004 before entering in a booth to cast her/his vote?

What is the relationship between impressions and ideas : What is the relationship between impressions and ideas? 2) How are impressions and ideas different? 3) What are the principles of association?

Design of a web site for a newly formed business : Your web design consultancy company has been invited to tender for the design of a web site for a newly formed business/organization.

Confidence interval for the weekly average expenditure : Construct a 95% confidence interval for the weekly average expenditure on fast food for adults 24 years of age and under. Assume fast food weekly expenditures are normally distributed.

Employees with varying amounts of vacation : A business provides its employees with varying amounts of vacation per year, depending on the length of employment. The estimated amount of the current year's vacation pay is $42,000. Journalize the adjusting entry required on January 31, the end of ..

Stockholders equity section of companys balance sheet : When Resisto Systems, Inc., was formed, the company was authorized to issue 5,000 shares of $100 par value, 8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock. Prepare the stockholders' equity section of the comp..

Compute of change in net operating income : The problem belongs to Basic Accounting and it discusses on compute of change in net operating income

Products entered into agreement to lease piece of equipment : On January 1, 2012, P&P Products entered into an agreement to lease a piece of equipment from Beta Company, Inc. The lease term is for five years at 8% interest, and the useful life of the equipment is six years. The first lease payment is made Jan. ..

User Account

All Pages