A Small Stock Brokerage Firm Wants to Determine the Average

question 14

Short Answer

A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks to their clients. A sample of the sales for 36 days revealed average daily sales of $200,000. Assume that the standard deviation of the population is known to be $18,000.
a.Provide a 95% confidence interval estimate for the average daily sale.
b.Provide a 97% confidence interval estimate for the average daily sale.

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