Some fast food chains offer a lower priced combination meal in an effort to attract budget conscious


Question: Some fast food chains offer a lower priced combination meal in an effort to attract budget conscious customers. One chain test-marketed a burger, fries, and drinks combination for $1.71. The weekly sales volumes for these meals was impressive. Suppose the chain wants to estimate the average amount its customers spent on a meal at their restaurant while this combination offer was in effect. An analyst gathers data from \(28\) randomly selected customers. The following data presents the sample meal totals.

$ 3.21, 5.40, 3.50, 4.39, 5.60, 8.65, 5.02, 4.20, 1.25, 7.64,

3.28, 5.75, 3.26, 3.80, 5.46, 9.87, 4.67, 5.86, 3.73, 4.08

5.47, 4.49, 5.19, 5.82, 7.62, 4.83, 8.42, 9.10

Use the data to construct a 90% confidence interval to estimate the population mean value. Assume the amounts spent are normally distributes.

Price: $2.99
Solution: The solution file consists of 2 pages
Type of Deliverable: Word Document

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