A retailer that sells home entertainment systems accumulated 10,451 sales invoices during the previous year. The total
Question:
a. Find a 95 percent confidence interval for μ, the true mean sales amount per invoice on the 10,451 invoices.
b. Find a point estimate of and a 95 percent confidence interval for г, the true total sales for the previous year.
c. What does this interval say about the company's claim that the true total sales were $6,384,675? Explain.
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Related Book For
Business Statistics In Practice
ISBN: 9780073401836
6th Edition
Authors: Bruce Bowerman, Richard O'Connell
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