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A city in Ontario builds a new public parking garage in its Central business district downtown, hoping to attract more shoppers downtown. The city
A city in Ontario builds a new public parking garage in its Central business district downtown, hoping to attract more shoppers downtown. The city plans to pay for ta structure through parking fees. For a random sample of 44 week- days, daily fees collected averaged $12, 700. The population standard deviation for daily fees collected is known to be $1450. Assume that parking fees are approximately normally distributed: a) Find a 95% confidence interval for the mean daily income this parking garage will generate and interpret your answer. Use z- distribution. b) The consultant who advised the city on this project predicted that parking revenues would average $12,600 per day. Test the consultants claim at a level of confidence of 10% using a z distribution.
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