In order to estimate the mean amount spent per customer for dinner at a Livonia restaurant, data were collected from a sample of 49 customers. For this sample of 49 customers, the sample mean was 21.50 and the sample variance was 15.
A) Estimate the mean amount spent per customer for dinner at a Livonia restaurant with a 91% confidence interval. Interpret the meaning of this interval (in English) for the restaurant owner. What can/should the owner do with this information?
B) Using the sample standard deviation as an estimate for the population standard deviation, what size sample should be chosen if we want to estimate the mean amount spent per customer for dinner at a Livonia restaurant to within $0.50 with 98% confidence?