Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution.
91, 178, 132, 97, 75, 94, 116, 100, 85
(a) Use a calculator with mean and sample standard deviation keys to find the sample mean startup cost x and sample standard deviation s. (Round your answers to one decimal place.)
(b) Find a 90% confidence interval for the population average startup costs μ for candy store franchises. (Round your answers to one decimal place.)
Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution.
| 94 | 170 | 132 | 99 | 75 | 94 | 116 | 100 |
85 |
Find a 90% confidence interval for the population average startup costs μ for candy store franchises. (Round your answers to one decimal place.)
upper limit?
lower limit?
Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution.
| 96 | 171 | 134 | 96 | 75 | 94 | 116 | 100 | 85 |
| x = | thousand dollars |
| s = | thousand dollars |
(b) Find a 90% confidence interval for the population average startup costs μ for candy store franchises. (Round your answers to one decimal place.)
| lower limit | thousand dollars |
| upper limit | thousand dollars |
Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution.
| 92 | 175 | 134 | 91 | 75 | 94 | 116 | 100 | 85 |
| x = | thousand dollars |
| s = | thousand dollars |
(b) Find a 90% confidence interval for the population average startup costs ? for candy store franchises. (Round your answers to one decimal place.)
| lower limit | thousand dollars |
| upper limit | thousand dollars |
Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution.
| 92 | 178 | 125 | 96 | 75 | 94 | 116 | 100 | 85 |
(a) Use a calculator with mean and sample standard deviation keys to find the sample mean startup cost x and sample standard deviation s. (Round your answers to four decimal places.)
| x = | thousand dollars |
| s = | thousand dollars |
Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution.
| 96 | 175 | 126 | 90 | 75 | 94 | 116 | 100 | 85 |
| x = | thousand dollars |
| s = | thousand dollars |
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