Assignment:
In an effort to estimate the mean amount spent per customer for dinner at an Atlanta restaurant, data were collected for a sample of 49 customers. The data collected are shown in the website file named Restaurant. Based upon past studies the population standard deviation is assumed known with σ = 55.
- At 95% confidence, what is the margin of error?
- Develop a 95% confidence interval estimate of the mean amount spent for dinner.
Provide complete and step by step solution for the question and show calculations and use formulas.