Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. These data are contained in the file named Houston. Based upon past studies the population standard deviation is known with σ = $7. 20.50 14.63 23.77 29.96 29.49 32.70 9.20 20.89 28.87 15.78 18.16 12.16 11.22 16.43 17.66 9.59 18.89 19.88 23.11 20.11 20.34 20.08 30.36 21.79 21.18 19.22 34.13 27.49 36.55 18.37 32.27 12.63 25.53 27.71 33.81 21.79 19.16 26.35 20.01 26.85 13.63 17.22 13.17 20.12 22.11 22.47 20.36 35.47 11.85 17.88 6.83 30.99 14.62 18.38 26.85 25.10 27.55 25.87 14.37 15.61 26.46 24.24 16.66 20.85 (a) At 99% confidence, what is the margin of error in dollars? (Round your answer to the nearest cent.) $ (b) Develop a 99% confidence interval estimate of the mean amount spent for lunch in dollars. (Round your answers to the nearest cent.) $ to $
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
| 20.50 | 14.63 | 23.77 | 29.96 | 29.49 | 32.70 | 9.20 | 20.89 |
| 28.87 | 15.78 | 18.16 | 12.16 | 11.22 | 16.43 | 17.66 | 9.59 |
| 18.89 | 19.88 | 23.11 | 20.11 | 20.34 | 20.08 | 30.36 | 21.79 |
| 21.18 | 19.22 | 34.13 | 27.49 | 36.55 | 18.37 | 32.27 | 12.63 |
| 25.53 | 27.71 | 33.81 | 21.79 | 19.16 | 26.35 | 20.01 | 26.85 |
| 13.63 | 17.22 | 13.17 | 20.12 | 22.11 | 22.47 | 20.36 | 35.47 |
| 11.85 | 17.88 | 6.83 | 30.99 | 14.62 | 18.38 | 26.85 | 25.10 |
| 27.55 | 25.87 | 14.37 | 15.61 | 26.46 | 24.24 | 16.66 | 20.85 |
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