A Statistician Wants to Estimate the Mean Weekly Family Expenditure

question 22

Essay

A statistician wants to estimate the mean weekly family expenditure on clothes. He believes that the largest weekly expenditure is $650 and the lowest is $150.
a. Estimate the standard deviation of the weekly expenditure.
b. Determine with 99% confidence the number of families that must be sampled to estimate the mean weekly family expenditure on clothes to within $15.

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Definitions:

Evaluate

To assess or analyze something systematically in order to understand its value, quality, importance, or effectiveness.

Evidence

Information or data that are systematically collected to support or refute a claim, theory, or conclusion.

Experts

Individuals with extensive knowledge or skill in a specific area or field, often gained through experience or education.

Unrelated Ideas

Concepts or thoughts that have no direct connection or relevance to each other.