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A random sample of 10 waiters in Weston,West Virginia,revealed the following hourly earnings,including tips: 19,18,15,16,18,17,16,18,20,and 14.(Units are dollars.)
a.If the hourly earnings are normally distributed with a standard deviation of $4.50,estimate with 95% confidence the mean hourly earnings for all waitresses in Iowa City.
b.Interpret your confidence interval.
Expense Accounts
These accounts are used to track the money spent or costs incurred in a company's operations.
Sales Discount
A reduction in the price charged to customers, typically given in exchange for prompt payment.
Discount Period
The discount period refers to the time frame in which a payment can be made at a reduced rate, typically in the context of early payment incentives to debtors.
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