Hoping to lure more shoppers​ downtown, a city builds a newpublic parking garage in the central business district. The cityplans to pay for the structure through parking fees. For a randomsample of

43 ​weekdays, daily fees collected averaged ​$128​, withstandard deviation of ​1717.

Complete parts a through e below.

​

a) Find a 99​% confidence interval for the mean daily incomethis parking garage will generate.

The 99​% confidence interval for the mean daily income is​($_________________, $___________​).

​(Round to two decimal places as​ needed.)

​

b) Explain in context what this confidence interval means.

Choose the correct answer below.

1. There is 99​% confidence that the daily income for a weekdayfalls in the interval.
2. There is 99​% confidence that the interval contains the meandaily income.
3. There is 99​% confidence that the daily income for all weekdaysfalls in the interval.
4. There is 99​% confidence that the mean daily income will alwaysfall in the interval.

​

c) Explain what 99​% confidence means in this context.

Choose the correct answer below.

1. 99​% of all samples of size 43 produce intervals that containthe mean daily income.
2. 99​% of all samples of size 43 have a mean daily income that isin the interval.
3. 99​% of all weekdays sampled have daily incomes that fall inthe interval.
4. 99​% of all weekdays have daily incomes that fall in theinterval.

​

e) The consultant who advised the city on this project predictedthat parking revenues would average ​$133 per day. Based on yourconfidence​ interval, what do you think of the​ consultant'sprediction? ​ Why?

Since the 99​% confidence interval (Contains or DoesNot Contain) the predicted​ average, the​consultant's prediction is (Not Plausible orPlausible)