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What is the point estimate of this population mean what

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Question: A local 7-11 store conducted a survey to determine the average amount of money that beer drinkers spend during SPRING BREAK Week. A sample of 50 "winos" revealed that X = $24 and the standard deviation was $6.

• What is the point estimate of this population mean? What does it signify?
• Using the 97% level of confidence, determine the confidence interval for u.

Reference no: EM13581834

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