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The standard deviation is a measure of a collection of values' variance or dispersion. The true mean bill for a customer at Burger Palace with 95% confidence is $13.38.
<h3>What is a standard deviation?</h3>The standard deviation is a measure of a collection of values' variance or dispersion. A low standard deviation implies that the values are close to the set's mean, whereas a high standard deviation shows that the values are spread out over a larger range.
Given that the Sample mean () is $14.30, the Sample size(n) is 24 customers, the Standard deviation(σ) is 2.30, while for a 95% confidence interval the Z-score is 1.960. Therefore, the true mean can be written as,
μ = 13.3788 ≈ 13.38
Hence, the true mean bill for a customer at Burger Palace with 95% confidence is $13.38.
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