Understanding Basic Statistics 6th Edition by Charles Henry Brase,Corrinne Pellillo Brase

تمرين 33

In Problems 13-19, assume that the population of x values has an approximately normal distribution.
Franchise: Candy Store Do you want to own your own candy store 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 (Source: Entrepreneur Magazine , Vol. 23, No. 10).
95 173 129 95 75 94 116 100 85
(a) Use a calculator with mean and sample stand deviation keys to verify that
106.9 thousand dollars and s 29.4 thousand dollars.
(b) Find a 90% confidence interval for the population average startup costs for candy store franchises.
(c) Interpretation What does the confidence interval mean in the context of this problem