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Confidence interval for the average daily number of shoppers

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Reference no: EM132428700

Problem: You wish to estimate the average number of customers that shop in your store every day. You know that the standard deviation of this distribution is 30. You monitor the daily number of costumers for 50 days, and find out that the average across those 50 days was 92 customers

Required:

Question 1: Calculate a 95% confidence interval for the average daily number of shoppers.

Question 2: Now assume that ya don't know the standard deviation of the population. You estimate it based on the sample you have gathered, and you find that it is 22.

Question 3: Calculate now a 95% confidence interval for the average daily number of shoppers

Reference no: EM132428700

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