Percent confidence interval around mean


A small town has a population of 20,000 people. Among these 1,000 regularly visit the popular local bar. A sample of 100 people who visit the bar is surveyed for their annual expenditures in bar. It is found that upon average each person who regularly visits the bar spends about $2000 for each year in the bar with the standard deviation of $200. Develop a 99 percent confidence interval around the mean annual expenditure in the bar.

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Basic Statistics: Percent confidence interval around mean
Reference No:- TGS0865571

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