Question
1.In a sample of 50 wine tasting rooms, the average amount of daily sales totals $3823 with a population standard deviation of $374 per day.
1.In a sample of 50 wine tasting rooms, the average amount of daily sales totals $3823 with a population standard deviation of $374 per day.
a) Find the margin of error for the population mean amount of daily sales using a 95% level of confidence.
b) Find a 95% confidence interval for the mean amount of daily sales.
c) Find a 90% confidence interval for the mean amount of daily sales.
d) Which confidence interval is wider?
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
