Question
In: Statistics and Probability
Do you want to own your own candy store? Wow! With some interest in running your...
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.
| 100 | 180 | 127 | 97 | 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.)
| x = | thousand dollars |
| s = | thousand dollars |
(b) Find a 90% confidence interval for the population average
startup costs μ for candy store franchises. (Round your
answers to one decimal place.)
| lower limit | thousand dollars |
| upper limit | thousand dollars |
Solutions
orchestra answered 2 years agoRelated Solutions
Do you want to own your own candy store? Wow! With some interest in running your...
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.
95
172
130...
Do you want to own your own candy store? Wow! With some interest in running your...
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.
94
171
126...
Do you want to own your own candy store? Wow! With some interest in running your...
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. 92
171 131...
Do you want to own your own candy store? Wow! With some interest in running your...
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.
96
173
130...
Do you want to own your own candy store? Wow! With some interest in running your...
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.
96
175
128...
Do you want to own your own candy store? Wow! With some interest in running your...
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.
90
170
126...
Do you want to own your own candy store? Wow! With some interest in running your...
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.
93
176
128...
Do you want to own your own candy store? Wow! With some interest in running your...
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.
96
170
125...
Do you want to own your own candy store? Wow! With some interest in running your...
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. 95
176 134...
Do you want to own your own candy store? Wow! With some interest in running your...
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.
90 174 133...
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