Question

Asked Sep 30, 2019

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**Please show how to do by hand.

**1) Meal cost in Hong Kong**. The mean cost of a meal for two in a mid-range restaurant in Tokyo is $40 (Numbeo.com website). How do prices for comparable meals in Hong Kong compare? The file HongKingMeals contains the costs for a sample of 42 recent meals for two in Hong Kong mid-range restaurants.

- With 95% confidence, what is the margin of error?
- What is the 95% confidence interval of the population mean?
- How do prices for meals for two in mid-range restaurants in Hong Kong compare to prices for comparable meals in Tokyo restaurants?

Meal Price ($) |

22.78 |

33.89 |

22.77 |

18.04 |

23.29 |

35.28 |

42.38 |

36.88 |

38.55 |

41.68 |

25.73 |

34.19 |

31.75 |

25.24 |

26.32 |

19.57 |

36.57 |

32.97 |

36.83 |

30.17 |

37.29 |

25.37 |

24.71 |

28.79 |

32.83 |

43.00 |

35.23 |

34.76 |

33.06 |

27.73 |

31.89 |

38.47 |

39.42 |

40.72 |

43.92 |

36.51 |

45.25 |

33.51 |

29.17 |

30.54 |

26.74 |

37.93 |

Step 1

1.

Step-by-step procedure to obtain the mean and standard deviation using Excel:

- In Excel sheet, enter
**Meal Price**in one column. - In
**Data**, select**Data Analysis**and choose**Descriptive Statistics**. - In
**Input Range,**select**Meal Price**, then click**Labels in First Row**. - Select
**Summary Statistics**. - Click
**Ok**.

Output obtained using Excel is given below:

Step 2

The margin of error is obtained below:

Step 3

Thus, the margin of error is **2.065**.

2.

The 95% confidence interval fo...

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