Solution-Mean dollar amount of sales per customer

Mean dollar amount of sales per customer

Reference no: EM131319820

A prospective purchaser wishes to estimate the mean dollar amount of sales per customer at a toy store located in an airport terminal. Based on data from other similar airports, the standard deviation of such sales is about $3.20. If sales are normally distributed, what size of sample should be drawn to ensure a 0.99 probability that the sample mean lies within $1 of the population mean?

Reference no: EM131319820

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Mean dollar amount of sales per customer

Reference no: EM131319820

Reference no: EM131319820

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