Question
Big Bazar chain of 150 shopping malls has been bought out by another large nationwide supermarket chain. Before the deal is finalized the larger chain
Big Bazar chain of 150 shopping malls has been bought out by another large nationwide supermarket chain. Before the deal is finalized the larger chain wants to have Some assurance that Big Bazar will be a consistent money maker..The larger chain hasS decided to look at the financial records of 25 of the Big Bazar outlets. Big Bazar claims that all outlets earn roughly the same profits which are characterised by an approximately normal distribution with a standard deviation of Rs 40 Million. If the Big bazar management is correct then what is the probability that the sample mean for 25 outlets will fall within Rs 30 million of the actual mean?
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