(Solution) - The mean cost of a meal for two in a -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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The mean cost of a meal for two in a mid-range restaurant in Tokyo is $40 (Numbeo.com website, December 14, 2014). How do prices for comparable meals in Hong Kong compare? The Data file Hong Kong Meals contains the costs for a sample of 42 recent meals for two in Hong Kong mid-range restaurants.
a. With 95% confidence, what is the margin of error?
b. What is the 95% confidence interval estimate of the population mean?
c. How do prices for meals for two in mid-range restaurants in Hong Kong compare to prices for comparable meals in Tokyo restaurants?