# Construct a 99 Percent Confidence Interval Around the Mean

Not what you're looking for?

A small town has a population of 20,000 people. Among these, 1,000 regularly visit a popular local bar. A sample of 100 people who visit the bar is surveyed for their annual expenditures in the bar. It is found that on average each person who regularly visits the bar spends about $2000 per year in the bar with a standard deviation of $200. Construct a 99 percent confidence interval around the mean annual expenditure in the bar.

##### Purchase this Solution

##### Solution Summary

The solution provides step by step method for the calculation of confidence interval for mean. Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included. The user can edit the inputs and obtain the complete results for a new set of data.

##### Solution Preview

Please see the attachments.

Statistics exercise 3

Please solve the exercise below using Excel and show your work (including formulas)

3. A small town has a population of 20,000 people. Among these 1,000 regularly visit a popular local bar. A sample of 100 people who visit the bar is surveyed for their annual expenditures in the bar. It is found that on average each ...

##### Purchase this Solution

##### Free BrainMass Quizzes

##### Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

##### Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

##### Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

##### Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.