PROBLEM 3 (25 points)
A Rollercoaster’s auditors estimate that the average daily loss from those illegally riding without tickets is never more than $200, but wants to determine the accuracy of this statistic. The company researcher takes a random sample of losses over 49 days and finds that = $187 and s = $30.
a) Test at α = 0.05.
b) Construct a 95% confidence interval of losses.