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What is the point estimate of the population mean

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Reference no: EM131577021

Bob Nale is the owner of Nales Quick fill. Bob wants to estimate the mean number of gallons of gas sold to his customers. Assume the number of gallons sold follows the normal distribution with a population standard deviation of 2.20 gallons. From his records, he selects a random sample of 50 sales and finds the mean number of gallons sold is 8.10.

1) What is the point estimate of the population mean?

2) Develop a 98% confidence interval for the population mean (Use z Distribution Table) (confidence interval should be two numbers)

Reference no: EM131577021

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