Question

A store owner is interested in opening a second shop. She wants to estimate the true average daily revenue of her current shop to decide whether expanding her business is a good idea. The store owner takes a random sample of 60 days over a six-month period and finds that the mean revenue of those days is 3,472.00 dollars with variance 315,900.20 square dollars. Calculate a 95% confidence interval to estimate the true average daily revenue

Answer 1

Explanation:

A store owner is interested in opening a second shop. She wants to estimate the true average daily revenue of her current shop to ... The store owner takes a random sample of 60 days over a six-month period