Instruction 12 -Referring to Instruction 12

question 194

Short Answer

Instruction 12.40
The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of dollars) for individual stores based on the number of customers who made purchases. A random sample of 12 stores yields the following results:
$$\begin{array} { | l | c | } \hline \text { Customers } & \text { Sales (Thousands of Dollars) } \\\hline 907 & 11.20 \\\hline 926 & 11.05 \\\hline 713 & 8.21 \\\hline 741 & 9.21 \\\hline 780 & 9.42 \\\hline 898 & 10.08 \\\hline 510 & 6.73 \\\hline 529 & 7.02 \\\hline 460 & 6.12 \\\hline 872 & 9.52 \\\hline 650 & 7.53 \\\hline 603 & 7.25 \\\hline\end{array}$$
-Referring to Instruction 12.40,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:

Heterogeneous Middle-Class

A diverse socio-economic group composed of individuals from various backgrounds with differing levels of income, education, and occupation.

Market Situation

Refers to the current conditions within a specific market, including demand, supply, pricing, and competition.

Technical Skill

The ability to accomplish tasks using specialized knowledge or expertise, particularly in relation to mechanical, informational, or scientific areas.

Class-Consciousness

The awareness and sense of belonging to a specific social class or economic group, often related to one's position and interests within the structure of society.