A university has 5,000 students. The manager of food services at the university is interested in determining the total lunch expenditure. A simple random sample of 121 lunch receipts was selected. The sample showed an average of $3 with a standard deviation of $0.40.
a.Estimate the standard error of the sample mean.
b.Develop an approximate 95% confidence interval for the population mean.
c.Estimate the population's total expenditure for lunch.
d.Develop an approximate 95% confidence interval for the total expenditure for lunch.

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The Answer of A university has 5,000 students. The manager of food services at the university is interested in determining the total lunch expenditure. A simple random sample of 121 lunch receipts was selected. The sample showed an average of $3 with a standard deviation of $0.40.
a.Estimate the standard error of the sample mean.
b.Develop an approximate 95% confidence interval for the population mean.
c.Estimate the population's total expenditure for lunch.
d.Develop an approximate 95% confidence interval for the total expenditure for lunch.

A University Has 5,000 Students