To anticipate average profitability for a fast-food franchise over the coming year, the CEO takes a random sample of 19 outlets and asks each outlet manager for their expected prot for the next 12 months. Suppose the sample mean is 12.4 (million) and the standard deviation from this sample is 2.6 (million). Assumingthat the population expected profitability is normally distributed, estimate a 90% condence interval for the population mean by answering the following questions. X = Anticipated profitability over the next year. What is the point estimator of this parameter and what is the sampling distribution of the standardised value of the point estimator. State and verify any required conditions. Point estimator: Standardised point estimator: Sampting distribution of the standardised point estimator: is the required condition(s) satisfied? Why