Finer diner average meal prices

Reference no: EM1389388

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) a meal chosen at random is priced above $11.00 b) 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 σ = $0.75, calculate a 95% confidence interval for the population mean price.

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Reference no: EM1389388

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