Question: In order to lure female customers a new clothing store

In order to lure female customers, a new clothing store offers free gourmet coffee and pastry to its customers. The average daily revenue over the past five-week period has been $1,080 with a standard deviation of $260. Use this sample information to construct the 95% confidence interval for the average daily revenue. The store manager believes that the coffee and pastry strategy would lead to an average daily revenue of $1,200. Use the above 95% interval to determine if the manager is wrong.

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  • CreatedJanuary 28, 2015
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