A survey is conducted by the American Automobile Association to investigate the daily expense of a family of four while on vacation. Suppose that a sample of 64 families of four vacationing at Niagara Falls resulted in sample mean of $252.45 per day. Based on historical data, we assume that the standard deviation is $74.50.
A) Develop a 95% confidence interval estimate of the mean amount spent per day by a family of four visiting Niagara Falls.
[106.43, 398.47]
[228.47, 276.43]
[243.14, 261.76]
[234.2, 270.7]