For a 80% confidence level, z=1.282. The confidence interval estimate of the population mean annual amount spent is 7935.92 to 8064.08.
Show how Z=1.282 is calculated?© BrainMass Inc. brainmass.com June 4, 2020, 3:29 am ad1c9bdddf
Estimate the mean annual amount spent per customer, sample of 100 households, average amount of $8,000. If the population standard deviation ...
This solution calculates the mean annual household consumption.