Confidence Intervals
Do the calculations on paper. Show all work by writing theequation in symbol format first. Then define each symbol in termsof the problem. Show each step of your calculation, skipping nostep (each division, each addition, each multiplication.) When youhave your final answer(s), draw a box around them. Copy and pastethe image(s) into your document and label the image(s.) [That is tosay, some people write larger, some smaller, some may get the workto fit nicely on half a page, others may take two and a halfpages... Grade not based on how many pages... Grade based onreasonable work which can be read and followed. If you type it out,great. But if you do not, also great. Still show all work, noskipped steps.] Use software to replicate your answers. Paste inoutput to verify software use. [Excel, Minitab, StatCrunch, otherapps...as your choice, just reference what you used...if on a page,give hyperlink to page, but do make sure you paste in work.]
Then explain your answer in words. Make a confidence statement.Explain its limitations, and its risks. [how sure are you that youare right; what are the costs and probability that you arewrong.
A1 Eddie is the manager of a small grocery store in Alabama,which is part of a large chain, but serves a rural community. Hisstore had begun offering online ordering, with store parking lotpickup last year. It was not a big thing, as so many peoplesocialized when they \"came to town to shop. This last month, thingshave changed. More of his regular customers are doing onlineshopping/parking lot pickup. He did a random sample from the lasttwo weeks, choosing a sample of 49 from the 589 orders. The mean ofhis sample was $85.00, with a standard deviation of$15.00.  Choose a confidence interval [80, 90, 95, or 99]and explain why that percent would work for thisquestion.  Create a confidence interval of the mean topredict the average dollar of sales. Make a statement, using theresults from your calculations, rounding reasonably.
