Discussion:
Q: Merrill Lynch Securities and Health Care Retirement, Inc., are two large employers in downtown Toledo, Ohio. They are considering jointly offering child care for their employees. As apart of the feasibility study, they wish to estimate the mean weekly child-care cost of their employees. A sample of 10 employees who use child care reveals the following amounts spent last week.
$107 $92 $97 $95 $105 $101 $91 $99 $95 $104
Develop a 90 percent confidence interval for the population mean. Interpret the result.