A research firm supplies manufacturers with estimates of the sales of their products from samples of stores. Marketing managers often look at the sales estimates and ignore sampling error. An SRS of 50 stores this month shows mean sales of 41 units of a particular appliance with standard deviation of 11 units. During the same month last year, an SRS of 52 stores gave mean sales of 38 units of the same appliance with a standard deviation of 13units. An increase from 38to 41 is a rise of 7.9%.. The marketing manager is happy because sales are up 7.9%. (a) Give a 95%confidence interval for the difference in mean number of units of the appliance sold at all retail stores. Give your answers to three decimal places. lower bound: upper bound:
A research firm supplies manufacturers with estimates of the sales of their products from samples of stores. Marketing managers often look at the sales estimates and ignore sampling error. An SRS of 50 stores this month shows mean sales of 41 units of a particular appliance with standard deviation of 11 units. During the same month last year, an SRS of 52 stores gave mean sales of 38 units of the same appliance with a standard deviation of 13units. An increase from 38to 41 is a rise of 7.9%.. The marketing manager is happy because sales are up 7.9%.
(a) Give a 95%confidence interval for the difference in mean number of units of the appliance sold at all retail stores. Give your answers to three decimal places.
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