The 91 million Americans of age 50 and over control 50 percent of all discretionary income. AARP estimated that the average annual expenditure on restaurants and carryout food was $1,869 for individuals in this age group. Suppose this estimate is based on a sample of 85 persons and that the sample standard deviation is $590. Round your answers to the nearest whole numbers. a. At 95% confidence, what is the margin of error? b. What is the 95% confidence interval for the population mean amount spent on restaurants and carryout food? c. What is your estimate of the total amount spent by Americans of age 50 and over on restaurants and carryout food? $ million

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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The 91 million Americans of age 50 and over control 50 percent of all discretionary income. AARP estimated that the average annual expenditure
on restaurants and carryout food was $1,869 for individuals in this age group. Suppose this estimate is based on a sample of 85 persons and
that the sample standard deviation is $590. Round your answers to the nearest whole numbers.
a. At 95% confidence, what is the margin of error?
b. What is the 95% confidence interval for the population mean amount spent on restaurants and carryout food?
c. What is your estimate of the total amount spent by Americans of age 50 and over on restaurants and carryout food?
$
million
Transcribed Image Text:The 91 million Americans of age 50 and over control 50 percent of all discretionary income. AARP estimated that the average annual expenditure on restaurants and carryout food was $1,869 for individuals in this age group. Suppose this estimate is based on a sample of 85 persons and that the sample standard deviation is $590. Round your answers to the nearest whole numbers. a. At 95% confidence, what is the margin of error? b. What is the 95% confidence interval for the population mean amount spent on restaurants and carryout food? c. What is your estimate of the total amount spent by Americans of age 50 and over on restaurants and carryout food? $ million
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