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Suppose that you wish to estimate the mean sales amount per retail outlet for a particular consumer product during the past year. the number of


  • Suppose that you wish to estimate the mean sales amount per retail outlet for a particular consumer product during the past year. the number of retail outlets is large. the number of retail outlets is large and sales amounts are assumed to be normally distributed. for a random sample n =25, the sample mean = $1000 and sample standard deviation s= $200 construct a 95% confidence interval for estimating population mean.

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