Statistics
posted by Kennon .
A study was conducted to estimate the mean amount spent on Christmas gifts for a typical family having two children. A sample of size 150 was taken, and the mean amount spent was $225. Assuming a standard deviation equal to $50, find a 95% confidence interval for , the mean for all such families.

See later post. Same formula.
Respond to this Question
Similar Questions

Statistics: Sample Size, Variance and Standard Dev
Sample Size, Variance and Standard Deviation A student organization plans to ask 100 randomly selected students how much they spent on textbooks last semester. You argue for a sample of 900 students instead of 100. You know the standard … 
statistics
The 92 million Americans of age 50 and over control 50% of all discretionary income (AARP Bulletin, March 2008). AARP estimated that the average annual expenditure on restaurants and carry out food was $1873 for individuals in this … 
statistics
A department store management claims that families spend an average of $625 on gifts during the Christmas season. A sample of 120 families showed that they spent an average of $665 on gifts during the past Christmas season with a standard … 
statistics
At the end of the festival the organizers estimated that a family of participants spent an average of $90.00 with a standard deviation of $15.00. What’s the probability that the mean amount spent will be NO more than $75? 
Statistics
Data from the latest census was analyzed. It was determined that oneparent households spend less on food away from home that do twoparent households. The mean amount spent by 30 oneparent households is $1876 and the standard deviation … 
statistics
Data from the latest census was analyzed. It was determined that oneparent households spend less on food away from home that do twoparent households. The mean amount spent by 30 oneparent households is $1876 and the standard deviation … 
statistics
A researcher wishes to estimate the mean amount of money spent per month on food by households in a certain neighborhood. She desires a margin of error of $30. Past studies suggest that a population standard deviation of $248 is reasonable. … 
stat
Find an estimate of the sample size needed to obtain the specified margin of error for the 95% confidence interval. A researcher wishes to estimate the mean amount of money spent per month on food by households in a certain neighborhood. … 
Statistics
At the end of the Halloween Festival the organizers estimated that a family of participants spent an average $45.00 with a standard deviation of $12.00. What’s the probability that the mean amount spent will be between $20 and $30? 
Statistics
A college statistics class conducted a survey of how students spend their money. They asked 25 students to estimate how much money they typically spend each week on fast food. They determined that the mean amount spent on fast food …