Question
A growing niche in the restaurant business is gourmet-casual breakfast, lunchand brunch. Chains in this group include Panera Bread. Suppose that the mean per-person check
A growing niche in the restaurant business is gourmet-casual breakfast, lunchand brunch. Chains in this group include Panera Bread. Suppose that the mean per-person check forbreakfast at Panera is $9.50.
a. Assuming a standard deviation of $2.00, what sample size is needed to estimate, with 95%confidence, the mean per-person check for Panera to within +/- $0.25?
b. Assuming a standard deviation of $2.50, what sample size is needed to estimate, with 95%confidence, the mean per-person check for Panera to within +/- $0.25?
c. Assuming a standard deviation of $3.00, what sample size is needed to estimate, with 95%confidence, the mean per-person check for Panera to within +/- $0.25?
If you want to be 95% confident of estimating the population mean towithin +/- 5 and the standard deviation is assumed to be 15, what sample size is required?
If you want to be 99% confident of estimating the population mean to within +/- 20 and the standard deviation isassumed to be 100, what sample size is required?
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