# The manager of the Inlet Square Mall, just north of Ft. Meye

The manager of the Inlet Square Mall, just north of Ft. Meyers, Florida, wants to estimate the mean amount spent per shopping visit by customers. A sample of 20 customers reveals the following amounts spent: (Data in the excel file).

What is the best estimate of the population mean? Determine a 95 percent confidence interval. Interpret the result, would it be reasonable to conclude that the population mean is $50? What about $60?

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#### Solution Summary

Compute the best estimate of the population mean, compute the 95% confidence interval and test whether $50 and $60 can be the population mean.

$2.19