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Suppose this estimate is based on a sample of 80 persons

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Reference no: EM13630520

The 92 million of Americans of age 50 and over control 50 percent of all discretionary income (AARP Bulletin, March 2008). AARP estimated that the average annual expenditure on restaurants and carryout food was $1873 for individuals in this age group. Suppose this estimate is based on a sample of 80 persons and that the sample standard deviation is $550. What is the 95% confidence interval for the population mean amount spent on restaurants and carryout food?

Reference no: EM13630520

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