A survey of 50 young professionals found that they spent an average
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A survey of 50 young professionals found that they spent an average

1. Complete Problems 26 and 29 at the end of Chapter 6 on pages 242-243 of your textbook.  Interpret the results of each interval in context.

2. A survey of 50 young professionals found that they spent an average of $19.31 when dining out with a sample standard deviation of $12.11.  Construct a 95% interval estimate of the population mean (sigma is unknown).  Can you conclude, at 95% confidence, that the population mean is greater than $18?  Why or why not?

3. A survey of 240 individuals found that 1/3 of them use their cell phones primarily for e-mail. Construct a 95% interval estimate of the population proportion.  Can you conclude, at 95% confidence, that the population proportion is less than 0.4?


Hint
BusinessA confidence interval is a critical tool in business statistics. It helps a business to evaluate the consistency of a particular estimate. Since no estimation can be 100 percent dependable, businesses should be able to know how self-confident they should be in their approximations and whether or not to act on them...

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