Question
I would appreciate your help with the following problem question showing all workings in detail please. Thank you. For many florists, the days leading up
I would appreciate your help with the following problem question showing all workings in detail please.
Thank you.
"For many florists, the days leading up to Valentine's Day are among the busiest of the year. An owner of a florist wanted to estimate the average sale amount for all sales made on the day before Valentine's Day, February 13th. When she had time she wrote down the sale price of a transaction of fresh flowers on a sheet of paper. By 3pm she had collected n=52 sale prices of all flower sales that were made day. The variable of interest is the total euro amount of each purchase. During her quick tea-break she calculated the average sale price of the 52 sales as 74.31 euro and found that they varied with a standard deviation of 20.48 euro."
- Estimate the value of the population mean, , the true mean sale amount of all sales on February 13, by calculating a 95% confidence interval.
- 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 ____
- It is quite likely that the true mean sale amount of all sales on February 13 is between____ and____ ,with 95% confidence.
Thank you for your support in this
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