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ECON 112 – A manager would like to estimate the average

by | Nov 30, 2023 | Posted Questions

7. A manager would like to estimate the average amount spent by a couple for dinner at his restaurant. A random sample of 30 couples provided a sample mean per couple of $78.25. Assume that the population standard deviation per couple is $22.50. Compute and explain a 95% confidence interval estimate of the population mean.

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