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Mathematics, 12.02.2020 04:46 dozsyerra
A research firm conducted a survey to determine the mean amount Americans spend on coffee during a week. They found the distribution of weekly spending followed the normal distribution with a population standard deviation of $5. A sample of 64 Americans revealed that X¯¯¯=$20.
A. What is the point estimate of the population mean? Explain what it indicates.
B. Using the 95 percent level of confidence, determine the confidence interval for μ. Explain what it indicates.
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