Sales of a new line of athletic footwear are crucial to the success of a newly formed company. The company wishes to estimate the average weekly sales of the new footwear to within $150 with 90% reliability. The initial sales indicate that the standard deviation of the weekly sales figures is approximately $1650. How many weeks of data must be sampled for the company to get the information it desires?

Question

Quizplus · Accepted Answer

The Answer of Sales of a new line of athletic footwear are crucial to the success of a newly formed company. The company wishes to estimate the average weekly sales of the new footwear to within $150 with 90% reliability. The initial sales indicate that the standard deviation of the weekly sales figures is approximately $1650. How many weeks of data must be sampled for the company to get the information it desires?

Sales of a New Line of Athletic Footwear Are Crucial