A pharmaceutical company operates retail pharmacies in 10 eastern states. Recently, the company's internal audit department selected a random sample of n= 300prescriptions issued throughout the system. The objective of the sampling was to estimate the average dollar value of all prescriptions issued by the company. The datacollected were x= $13.34 and s= 3.00. Complete parts a and b below.a. The 90% confidence interval estimate for the true average sales value for presoriptions issued by the company is from $ to $You are asked to interpret the meaning of this confidence interval by choosing the correct answer below:O A. The company believes with 90% confidence that the sample mean prescription amount is between these two amounts.O B. The company believes that the true mean prescription amount falls between these two values 90% of the time.C. There is a 0.90 probability that the true mean prescription amount is between these two values.OD. The company believes with 90% confidence that the true mean prescription amount is between these two amounts.b. One of its retail outlets recently reported that it had monthly revenue of $7,074 from 537 prescriptions. Are such results to be expected? Should that retail outlet beaudited?When the population mean is at the upper limit of the 90% confidence interval computed in part a, the upper limit of the 90% confidence interval for the expected totalmonthly revenue for 537 prescriptions would be $When the population mean is at the lower limit of the 90% confidence interval computed in part a, the lower limit of the 90% confidence interval for the expected totalmonthly revenue for 537 prescriptions would be $.Since this outlet reported sales of $7,074 from 537 prescriptions, there isreason to believe that this is out of line. The retail outletbe audited.

a) Given: Company's internal audit department selected a random sample of…

Answered: A pharmaceutical company operates…

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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