A local pizzeria wants to know how much the average cost of an order is during lunchtime on Wednesdays. They collected data from ten orders on Wednesdays (assume their sampling method provides a representative sample) and the data from their sample was:
$6.18 $11.98 $13.55 $18.99 $20.54 $23.35 $35.00 $37.33 $40.77 $46.71
1- What is the value of x-bar?
2- What is the value of s (the sample standard deviation)?
3- What is the value of t* for a 95% confidence interval for this data? ( using table)
4- What is the value of the lower limit of the 95% confidence interval?
5- What is the value of the upper limit of the 95% confidence interval?
6- Interpret this condence interval in the context of the problem.