Question
Can you help me with the following problem statistic question. Can you show me clear workings for all the sections. Thank you. The next day,
Can you help me with the following problem statistic question.
Can you show me clear workings for all the sections.
Thank you.
"The next day, Valentines Day, February 14th, the owner tries to improve her sales technique pushing for orders of higher amounts. Again she attempts to write down a number of random sale amounts as the day goes on. As she is so busy she manages to record only n=14 sale prices among all flower sales that day. She calculated the average sale price of the 14 sales as 97.71 euro and calculated that they varied with a standard deviation of 15.73 euro."
Estimate the value of the population mean, , the true mean sale amount of all sales on February 14, by calculating a 95% confidence interval.
It is quite likely that the true mean sale amount of all sales on February 14 is between_____ and_____ ,with 95% confidence.
- An estimate of the population mean is?_____
- The standard error is?_____
- The distribution is? _____(examples: normal / t12 / chisquare4 / F5,6).
- For a 95% confidence interval the distributional cut-off is ______(3 dec places).
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