Question: Here is an extra credit question if you would like to get 5 points: Suppose you come across a problem such as this one below:
Here is an extra credit question if you would like to get 5 points: Suppose you come across a problem such as this one below: "The daily revenue from the sale of fried dough at a local street vendor in Boston is known to be normally distributed with a known standard deviation of$120. The revenue on each of the last 25 days is noted, and the average is computed as$550. Construct a95%confidence interval for the population mean of the sale of fried dough by this vendor." (Seems like a typical quiz question, right?) Explain in very simple terms what distribution formula you would use to help you solve and explain why you would use that distribution. That's it... *Give me at least two complete well- constructed sentences to get the points.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
