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Suppose you would like to estimate the mean amount of money (μ) spent on books by...

Suppose you would like to estimate the mean amount of money (μ) spent on books by
students in a semester. You have the following data from 41 randomly selected
students: = $264 and s = $42. Assume that the amount spent on books by
students is normally distributed.
a) (10 points) Compute a 80% confidence interval.
b) (10 points) Is there evidence at a 10% level of significance that the mean amount of
money spent on books by students in a semester is greater than $270?

Math   Statistics-And-Probability   
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