Covid-19, making malls in Singapore begin to limit the number of visitors and time of visits. One of the marketing directors of a large department store wanted to estimate the average number of customers who entered the store every five minutes. He randomly selects a sample and watches the customer for five minutes. He got the numbers 74, 32, 41, 47, 56, 80, 45, 29, 32, and 78. Then the director asked the analyst to count the number of arrivals at the store. The analyst assumes the number of arrivals is normally distributed. Using this data and a 95% confidence interval, calculate the estimated five-minute average value inside the department store! What is the benefit of estimating the estimated value in this case (analyze the answers you have obtained)?
Covid-19, making malls in Singapore begin to limit the number of visitors and time of visits. One of the marketing directors of a large department store wanted to estimate the average number of customers who entered the store every five minutes. He randomly selects a sample and watches the customer for five minutes. He got the numbers 74, 32, 41, 47, 56, 80, 45, 29, 32, and 78. Then the director asked the analyst to count the number of arrivals at the store. The analyst assumes the number of arrivals is
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