You own an icecream shop in Bay City, and you are interested in estimating how many icecreams sold. You collected sales data on 36 days this past year. The mean of this sample is 273.5 icecreams and the standard deviation from the sample is 58.2 icecreams. Use this information to answer the following questions. A.. Construct a 99% confidence interval estimate for the population mean icecreams sold. B.. Fully interpret the 99% confidence interval from part a. C. ( Suppose you are ok with lowering the confidence in the estimate to 95%. Using the new confidence level, repart part a.

MATLAB: An Introduction with Applications
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Author:Amos Gilat
Publisher:Amos Gilat
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You own an icecream shop in Bay City, and you are interested in estimating how many patrons you serve a day. The variable of interest is
icecreams sold. You collected sales data on 36 days this past year. The mean of this sample is 273.5 icecreams and the standard deviation from
the sample is 58.2 icecreams. Use this information to answer the following questions.
A.
Construct a 99% confidence interval estimate for the population mean icecreams sold.
0
1
2
3 B..
4 Fully interpret the 99% confidence interval from part a.
5
6
7
8
9 C.
Suppose you are ok with lowering the confidence in the estimate to 95%. Using the new
0 confidence level, repart part a.
1
2
3
4 D.C.
5 Discuss the effect of a confidence level change on the confidence interval estimate.
6
7
8
9
10
Work for SAIA
Transcribed Image Text:You own an icecream shop in Bay City, and you are interested in estimating how many patrons you serve a day. The variable of interest is icecreams sold. You collected sales data on 36 days this past year. The mean of this sample is 273.5 icecreams and the standard deviation from the sample is 58.2 icecreams. Use this information to answer the following questions. A. Construct a 99% confidence interval estimate for the population mean icecreams sold. 0 1 2 3 B.. 4 Fully interpret the 99% confidence interval from part a. 5 6 7 8 9 C. Suppose you are ok with lowering the confidence in the estimate to 95%. Using the new 0 confidence level, repart part a. 1 2 3 4 D.C. 5 Discuss the effect of a confidence level change on the confidence interval estimate. 6 7 8 9 10 Work for SAIA
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