Posted by Joey on .
A local grocery store wants to estimate the mean daily number of gallons of
milk sold to customers. Assume the number of gallons sold follows the normal
distribution, with a population standard deviation of 5.10 gallons. A random
sample of 60 days shows that the mean daily number of gallons sold is 10.00.
1) What is the point estimate of the population mean?
2) Compute a 99% confidence interval for the population mean.
1. the point estimate of the population mean is 10 gallons.
2. [(10-2.575*5.10/sqrt((60)), 10+ 2.575*5.10/sqrt((60))])
= [8.3, 11.7]