In order to estimate the difference between the average daily sales of two branches of a department store, the following data has been gathered. Downtown Store North Mall Store Sample Size n1 = 23 days n2 = 26 days Sample mean (in $1, 000) X1 = 37 X2 = 34 Sample Standard Deviation (in $1,000) s1 = 4 s2 = 5 A) Determine the point estimate of the difference between the means. B) Determine the degrees of freedom for this interval estimation. C) Compute the margin of error. D) Develop a 95% confidence interval for the difference between the two population means.
In order to estimate the difference between the average daily sales of two branches of a department store, the following data has been gathered. Downtown Store North Mall Store Sample Size n1 = 23 days n2 = 26 days Sample mean (in $1, 000) X1 = 37 X2 = 34 Sample Standard Deviation (in $1,000) s1 = 4 s2 = 5 A) Determine the point estimate of the difference between the means. B) Determine the degrees of freedom for this interval estimation. C) Compute the margin of error. D) Develop a 95% confidence interval for the difference between the two population means.
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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3) In order to estimate the difference between the average daily sales of two branches of a department store, the following data has been gathered.
| Downtown Store | North Mall Store | |
| Sample Size | n1 = 23 days | n2 = 26 days |
| Sample mean (in $1, 000) | X1 = 37 | X2 = 34 |
| Sample Standard Deviation (in $1,000) | s1 = 4 | s2 = 5 |
A) Determine the point estimate of the difference between the means.
B) Determine the degrees of freedom for this
C) Compute the margin of error.
D) Develop a 95% confidence interval for the difference between the two population means.
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