Find best point estimate of population mean

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Reference no: EM13127282

A researcher wishes to estimate the average amount of money a person spends on lottery tickets each month. A sample of 25 people who play the lottery found the mean to be $19 and the standard deviation to be 6.8. Find the best point estimate of the population mean and the 95% confidence interval of the population mean.

Reference no: EM13127282

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Find best point estimate of population mean : The mean to be $19 and the standard deviation to be 6.8. Find the best point estimate of the population mean and the 95% confidence interval of the population mean.

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