3) Franchise: Candy Store- Do you want to own your own candy store? 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, 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: 95 173 129 95 75 94 116 100 85 a) With a x= 106.9 and a SAMPLE STANDARD DEVIATION of s 29.4 (Hint: the population standard deviation (G) is NOT KNOWN), find a 90% confidence interval for the population average startup costs, µ, for candy store franchises.
3) Franchise: Candy Store- Do you want to own your own candy store? 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, 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: 95 173 129 95 75 94 116 100 85 a) With a x= 106.9 and a SAMPLE STANDARD DEVIATION of s 29.4 (Hint: the population standard deviation (G) is NOT KNOWN), find a 90% confidence interval for the population average startup costs, µ, for candy store franchises.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Can you please help me with a thank you!!
![3) Franchise: Candy Store - Do you want to own your own candy store? 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, 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:
95
173
129
95
75
94
116
100
85
a) With a x= 106.9 and a SAMPLE STANDARD DEVIATION of s = 29.4 (Hint: the population standard
deviation (g) is NOT KNOWN), find a 90% confidence interval for the population average startup costs, µ, for
candy store franchises.
b) What does this confidence interval mean in the context of this problem?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3d255071-5c69-4472-8d79-61c0a11c6416%2F7ec0b214-3821-458f-8a8f-7685e2f2ec72%2Ft0zsj47_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3) Franchise: Candy Store - Do you want to own your own candy store? 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, 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:
95
173
129
95
75
94
116
100
85
a) With a x= 106.9 and a SAMPLE STANDARD DEVIATION of s = 29.4 (Hint: the population standard
deviation (g) is NOT KNOWN), find a 90% confidence interval for the population average startup costs, µ, for
candy store franchises.
b) What does this confidence interval mean in the context of this problem?
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