A businesswoman is considering whether to open a coffee shop in a local shopping center. Before making
Question:
Assume that the distribution of weekly expenditures at coffee shops by all customers who visit coffee shops in this area is approximately normal.
a. What is the point estimate of the corresponding population mean?
b. Make a 95% confidence interval for the average amount of money spent per week at coffee shops by all customers who visit coffee shops in this area.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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