In: Statistics and Probability
6. A research firm conducted a survey to determine the mean amount steady smokers spend on cigarettes during a week. They found that the distribution of amounts spent per week followed a normal distribution with a standard deviation of $5. A sample of 49 steady smokers revealed a mean of $20
a) What is the point estimate for the population mean?
b) Using the 95% level of confidence, determine the confidence interval for the population mean.
c) Determine the 85% confidence interval for the population mean.