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[Step-by-Step] A New York restaurant would like to estimate the average amount customers spend for dinner. A sample of size 49 customers resulted an average of

Question: A New York restaurant would like to estimate the average amount customers spend for dinner. A sample of size 49 customers resulted an average of $32.60. Assume the population standard deviation is $5.

  1. What is the point estimation for the mean of the population?
  2. At 90% level of confidence, what is the margin of error?
  3. What is the 90% confidence level for the mean of the population?

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Deliverable: Word Document


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