Question: Problem 2 This file Store Sales xisx lists a particular representative month's sales for a sample of 100 department stores. The sales are provided for

Problem 2 This file "Store Sales xisx" lists a particular representative month's sales for a sample of 100 department stores. The sales are provided for three product categories: pharmacy sales, beverage sales, and toy sales. (a) We will be trying to estimate the population mean monthly pharmacy sales, beverage sales and toy sales for all stores. Remember we have a sample data for 100 stores in the data file. Calculate the margin of error for a 95% confidence interval for the population mean monthly pharmacy sales, beverage sales and toy sales. Which of the three categories has the lowest margin of error? What does a "low" margin of error tell you about the sales in that category? (b) Suppose we could gather more data points for beverage sales from additional stores. In order to make the margin of error for beverage sales as close as possible to the current margin of error for toy sales, how many additional data points would be required? Assume that the mean and sample standard deviation remain the same. Round to the nearest whole number. (c) Compared to the 95% confidence interval, is the 90% confidence interval for toy sales wider or narrower? Please explain your answer very briefly. (d) How many more store toy sales fall within the 95% confidence interval for the population mean toy sales than within the 90% confidence interval? [HINT: Count the number of data points that fall within each interval separately. For counting you could either do a manual count or use the COUNTIF function in Excel.]

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