Household
the Following Data Was Collected by a Particular Company

question 8

Essay

Household
The following data was collected by a particular company to determine if a relationship exists between the number of people in a household and weekly food expenditures.
$$\begin{array} { | c | c | c } \hline \text { Househald } & \text { Number in Hausehald } & \text { Weakly Fadd Expenses } \\\hline 1 & 2 & \$ 95 \\\hline 2 & 3 & \$ 137 \\\hline 3 & 5 & \$ 165 \\\hline 4 & 2 & \$ 105 \\\hline 5 & 4 & \$ 227 \\\hline 6 & 4 & \$ 240 \\\hline 7 & 5 & \$ 185 \\\hline\end{array}$$
-Construct a 95% prediction interval for the mean weekly food expense when the number in household equals 3.

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Definitions:

Negotiable

Refers to financial instruments or contracts that can be easily transferred or sold to another party.

Payable On Demand

A financial obligation that must be paid by the debtor when the creditor requests it.

Definite Time

A specific point or period in time that is clearly defined or determined.

Electronic Transactions

The process of conducting financial or administrative transactions digitally, using technology such as the internet, electronic data interchange, or email.