Question

Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution. 90 177 131 94 75 94 116 100 85 LA USE SALT (a) Use a calculator with mean and sample standard deviation keys to find the sample mean startup cost x and sample standard deviation s. (Round your answers to four decimal places.) X thousand dollars S thousand dollars (b) Find a 90% confidence interval for the population average startup costs , for candy store franchises. (Round your answers to one decimal place.) lower limit thousand dollars upper limit thousand dollars