TABLE 13-10
the Management of a Chain Electronic Store

question 43

Short Answer

TABLE 13-10
The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousand of dollars) for individual stores based on the number of customers who made purchases. A random sample of 12 stores yields the following results:
$$\begin{array} { | l | l | } \hline \text { Customers } & \text { Sales (Thousands of Dollars) } \\\hline 907 & 11.20 \\\hline 926 & 11.05 \\\hline 713 & 8.21 \\\hline 741 & 9.21 \\\hline 780 & 9.42 \\\hline 898 & 10.08 \\\hline 510 & 6.73 \\\hline 529 & 7.02 \\\hline 460 & 6.12 \\\hline 872 & 9.52 \\\hline 650 & 7.53 \\\hline 603 & 7.25 \\\hline\end{array}$$
-Referring to Table 13-10, construct a 95% confidence interval for the average weekly sales when the number of customers who make purchases is 600.

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Definitions:

Not-For-Profit Organizations

Organizations that operate for purposes other than generating profit, focusing on serving a public or mutual benefit instead of commercial or financial gains.

Federal or State Government

Organizational structures responsible for governing at either a national (federal) level or within individual states, overseeing and implementing laws, policies, and regulations.

Naturalistic Observation

An investigative approach where individuals are watched in their natural surroundings without any interference from the observer.

Observer Bias

A form of cognitive bias that occurs when an observer's expectations or beliefs influence the interpretation of data.