Current weekly sales of regular ground coffee at a supermarket average 354 pounds and vary according to
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Current weekly sales of regular ground coffee at a supermarket average 354 pounds and vary according to a normal distribution. The store wants to reduce the price to sell more ground coffee. After the price reduction, sales in the next three weeks averaged 398 pounds, with a standard deviation of 17. Is this good evidence that average sales are now 360 pounds? Construct a 99% confidence interval to answer the question.
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Related Book For
Principles Of Managerial Statistics And Data Science
ISBN: 9781119486411
1st Edition
Authors: Roberto Rivera
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