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Answer to Question #40449 in Statistics and Probability for Ong Chun Ping
Question #40449
Suppose that the owner of a recently opened convenience store in Kuala
Lumpur, Malaysia, wants to estimate how many pounds of bananas are sold during
a typical day. Assume that the daily sales of bananas is distributed normally. The
owner checks his sales records for a random sample of 16 days and establishes that
the mean number of pounds sold per day is 75 pounds, and that the sample standard
deviation is 6 pounds. Estimate the mean number of pounds the owner should stock
each day to a 95% confidence level.
Lumpur, Malaysia, wants to estimate how many pounds of bananas are sold during
a typical day. Assume that the daily sales of bananas is distributed normally. The
owner checks his sales records for a random sample of 16 days and establishes that
the mean number of pounds sold per day is 75 pounds, and that the sample standard
deviation is 6 pounds. Estimate the mean number of pounds the owner should stock
each day to a 95% confidence level.
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