Sales of a New Line of Athletic Footwear Are Crucial

question 74

Essay

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 $1500. How many weeks of data must be sampled for the company to get the information it desires?

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Definitions:

Good Samaritan Statutes

Laws that provide legal protection to individuals who voluntarily offer assistance to others in distress.

Liability

The condition of having legal accountability, particularly relating to debts or legal duties.

Assumption of The Risk

A legal defense that claims the plaintiff knowingly and willingly took on a dangerous activity or condition which led to injury.

Modified

Altered or changed in form, character, or substance, usually to improve or adapt to different situations.