A Local Electronics Firm Wants to Determine Their Average Daily

question 96

Short Answer

A local electronics firm wants to determine their average daily sales (in dollars.) A sample of the sales for 36 days revealed average sales of $139,000. Assume that the standard deviation of the population is known to be $12,000.
a.Provide a 95% confidence interval estimate for the average daily sales.
b.Provide a 97% confidence interval estimate for the average daily sales.

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Definitions:

Immediate Family

Refers to a person's closest relatives, typically including parents, siblings, spouse, and children.

Dying Child

A young individual in the terminal phase of an illness, facing the end of life, and the care approaches tailored to support them and their family.

Sibling

A person's brother or sister, sharing one or both biological parents, an important relationship in family and social dynamics.

Appropriate Death

A person dying as he or she wished to die. The death is generally consistent with past personality patterns.