A company wants to estimate the mean yearly sugar consumption. A sample of 16 pe

Question

A company wants to estimate the mean yearly sugar consumption. A sample of 16 people reveals the mean yearly consumption to be 60 pounds with a standard deviation of 20 pounds.
a) what is the value of the population mean? What is the best estimate of this value?
b) why do we need to use the t distribution? what assumption do you need to make?
c) for a 90% confidence interval, what is the value of t?
d) develop the 90% confidence interval, what is the value of t?
e) would it be reasonable to conclude that the population mean is 63 pounds?

Please help, I'm a Statistics beginner trying to study it independently..

Explanation / Answer

a) we don't know what the population mean is, but our best estimate is the sample mean, 60 b) n = 16 < 40 c) t* = 1.753 (from t table with df = 15) d) ME = 1.753*20/sqrt(16) = 1.753*5 = 8.765, so 51.235

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