Meal prices at The Finer Diner are normally distributed with an average price of $8.50 and a standard deviation of $0.75.
Find the probability that:
• A meal chosen at random is priced above $11.00 • A meal chosen at random is priced below $6.00
On Tuesday nights when Surf and Turf is offered as the nightly special, the average meal price jumps to $9.50. Considering that the standard deviation remains the same, calculate the probabilities above with this new average price.
A local consultant randomly selects a sample of 36 meals whose mean price is determined to be $8.75. Assuming that a = $0.75, calculate a 95% confidence interval for the population mean price.
Format your data in a Microsoft® Excel® spreadsheet.
Arrange the data and findings in a manner that is easily understood.
