Question: From data on a large sample of sales transactions, a small business owner reports that a 95% confidence interval for the mean profit per transaction,
From data on a large sample of sales transactions, a small business owner reports that a 95% confidence interval for the mean profit per transaction, u, is (23.41, 102.59). Use the data to determine
a. A point estimate (best guess) of the mean, u, and it's 95% error margin.
b. A 90% confidence interval for the mean, u.
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