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Suty, CPA is perfoming a sampling application to determine the average number of customers visiting a local restaurant on the Oxford Square on a
Suty, CPA is perfoming a sampling application to determine the average number of customers visiting a local restaurant on the Oxford Square on a weeknight. He randomly selects five weeknights during the month of April and calculates an average of 85 patrons per night, with an associated precision of 7 petrons. This precision is delennined based on a confidence level of 95% What is the sampling rak in THIS particular aluation. NOTE: De not define sampling risk. Tell me what Sully's sampling risk is in this pplication (points) b. How much is Sully's exposure to sampling risk in the situation? (1 point) What is the precision interval associated with Sully's sample? (3 points) d. Explain what the precision interval calculated above tells Buty (3 points) If the restaurant needed to average 93 patrons per weeknight to remain profitable, what would Buy's conclusion be for this restaurant? How did you determine that? (3 points) For the toolbar, press ALT+F10 (PC) or ALT+N+F10 (Mac)
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