Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Communications Posted 19 Sep 2017 My Price 5.00

Candy Store

Franchise: Candy Store Do you want to own your own candy store? 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 (Source: Entrepreneur Magazine, Vol. 23, No. 10).

95

173

129

95

75

94

116

100

85

(a) Use a calculator with mean and sample standard deviation keys to verify that  width=thousand dollars and s = 29.4thousand dollars.

(b) Find a 90% confidence interval for the population average startup costs μ for candy store franchises.

(c) Interpretation What does the confidence interval mean in the context of this problem?

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Sep 2017 07:09 AM My Price 5.00

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