Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Full working 6) In Smithville, data from different shoe outlets revealed that the average sales of shoes are $868 per shoe outlet. There were 88

Full working

image text in transcribed
6) In Smithville, data from different shoe outlets revealed that the average sales of shoes are $868 per shoe outlet. There were 88 outlets taken as a sample for a survey where the mean calculated was $25.6, and standard deviation was known to be $2.80. a) Using the above data, calculate a 95% condence interval for the average sale of shoes. (4 Marks ) b) Using the answer that you have found in part (a) above, illustrate the confidence intervals using a standard normal distribution graph (Bell shaped curve). (2 Marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

9781119563099

Students also viewed these Mathematics questions