Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a local electronics firm wants to determine their

A local electronics firm wants to determine their average daily sales (in dollars.) A sample...

60.1K

Verified Solution

Question

Accounting

A local electronics firm wants to determine their average daily sales (in dollars.) A sample of the sales for 64 days revealed an average sales of $140,000. Assume that the standard deviation of the population is known to be $14,000.
(a) Provide a 95% confidence interval estimate for the true average daily sales (in dollars). (Round your answers to the nearest dollar.)
b) provide a 98% confidence interval estimate foe the true average daily sales (in dollars). (round tour answer to the nearest dollar.)
image
You may need to use the appropriate appendix table or technology to answer this question. deviation of the population is known to be $24,000. (a) Provide a 95 th confidence interval estimate for the true average daily sales (in dollars), (Round your answers to the nearest dollar.) to 5 (b) Provide a 98h confidence interval estimate for the true average daily sales (in doltarn). (Hound your anwers to the nearest dollat) tos

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students