Determine point estimate of the population mean

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A research firm conducted a survey to determine the mean amount steady smokers spend on cigarettes during a week. They found the distribution of amounts spent per week followed the normal distribution with a standard deviation of $5. A sample of 49 steady smokers revealed that = $20

What is the point estimate of the population mean?

Using the 95 percent level of confidence, determine the confidence interval for μ.

Reference no: EM13139979

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