Solution: You wish to estimate the average amount of money a person spends on lottery tickets each month. You conduct of survey and find that in a sample
Question: You wish to estimate the average amount of money a person spends on lottery tickets each month. You conduct of survey and find that in a sample of 50 randomly selected people (who purchase lottery tickets every month) the mean spending is $19 and the standard deviation is $6.8.
- Find a 95% confidence interval estimate for the true mean.
- The provincial lottery authority reports that of those people who purchase lottery tickets every month, the average amount of money they each spend is $20 per month.
Does your survey results provide you any reason to challenge their claim?
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