Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. Based upon past studies the population standard deviation is known with σ = $6. a. At 99% confidence, what is the margin of error? b. Develop a 99% confidence interval estimate of the mean amount spent for lunch.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
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Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. Based upon past studies the population standard deviation is known with σ = $6. a. At 99% confidence, what is the margin of error? b. Develop a 99% confidence
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