P USE SALT (a) Use a calculator with mean and sample standard deviation keys to find the sample mean startup cost x and sample standard deviation s. (Round your answers to four decimal places. thousand dollars thousand dollars (b) Find a 90% confidence interval for the population average startup costs for candy store franchises. (Round your answers to one decimal place.) lower limit thousand dollars upper limit thousand dollars

MATLAB: An Introduction with Applications
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Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Do you want to own your own candy store? Wow! 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, The 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. Assume
that the population of x values has an approximately normal distribution.
99 177 127 92 75 94
116
100 85
n USE SALT
(a) Use a calculator with mean and sample standard deviation keys to find the sample mean startup cost x and sample standard deviation s. (Round your answers to four decimal places.)
x =
thousand dollars
S =
thousand dollars
(b) Find a 90% confidence interval for the population average startup costs u for candy store franchises. (Round your answers to one decimal place.)
lower limit
thousand dollars
upper limit
thousand dollars
Transcribed Image Text:Do you want to own your own candy store? Wow! 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, The 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. Assume that the population of x values has an approximately normal distribution. 99 177 127 92 75 94 116 100 85 n USE SALT (a) Use a calculator with mean and sample standard deviation keys to find the sample mean startup cost x and sample standard deviation s. (Round your answers to four decimal places.) x = thousand dollars S = thousand dollars (b) Find a 90% confidence interval for the population average startup costs u for candy store franchises. (Round your answers to one decimal place.) lower limit thousand dollars upper limit thousand dollars
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