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Hoping to lure more shoppers downtown, a city builds a new public parking garage in the central business district. The city plans to pay for
Hoping to lure more shoppers downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 42 weekdays, the fees collected each weekday averaged $135, with standard deviation of $17. Complete parts a through e below. - - - a) What assumptions must you make in order to use these statistics for inference? Select all that apply. A. The data values should be dependent. OB. The data are a random sample of all weekdays. O) C. The sample size is at least 10% of the population. OD. The distribution is unimodal and symmetric with no outliers. b) Find a 95% confidence interval for the mean income this parking garage will generate for each weekday. The 95% confidence interval for the mean income the parking garage will generate for each weekday is ($ $1). (Round to two decimal places as needed. Use ascending order.) () Interpret this confidence interval in context D) Explain what 95% confidence means in this context E) The consultant who advised the city on this project predicted that parking revenues would average $141 per weekday. Based on your confidence interval, do you think the consultant was correct? Why
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