posted by noell on .
Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution.
97 180 127 90 75 94 116 100 85
(a) Use a calculator with mean and sample standard deviation keys to find the sample mean startup cost x and sample standard deviation s. (Round your answers to one decimal place.)
(b) Find a 90% confidence interval for the population average start up costs μ for candy store franchises. (Round your answers to one decimal place.)
lower limit thousand dollars
upper limit thousand dollars
x = 107.1
s = 31.5
I have 90.8 & 123.4
are they correct?
I was wrong! I got the correct answers... 87.6 & 126.6