Assume that the average amount of money spent on video games is normally distributed with a...

Assume that the average amount of money spent on video games is normally distributed with a population standard deviation of 12.42 AED. Your friend wants to estimate the expenditure on video games, takes a sample of 10 students, and finds that the mean expenditure is 50.77 AED. a. Estimate with 99% confidence the average amount of expenditure on video games. b. How many students you need to sample in order to be within 5 AED, with 95% confidence? c. Assume that your friend told you that the average amount of expenditure from these 10 students should be at least 75 AED. Do you think he is correct? Explain using probabilities.

Expert Solution

(a)

(b)

(c)

Ans : No, because probability is zero.

orchestra answered 1 year ago

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