Question

In Example 5 about Aunt Erma’s Restaurant, the daily sales follow a probability distribution that has a mean of μ = +900 and a standard deviation of σ = +300. This past week the daily sales for the seven days had a mean of $980 and a standard deviation of $276.
a. Identify the mean and standard deviation of the population distribution.
b. Identify the mean and standard deviation of the data distribution. What does the standard deviation describe?
c. Identify the mean and the standard deviation of the sampling distribution of the sample mean for samples of seven daily sales. What does this standard deviation describe?


$1.99
Sales0
Views107
Comments0
  • CreatedSeptember 11, 2015
  • Files Included
Post your question
5000