Fast-food restaurant located in Dubai in half-pound hamburgers, fish sandwiches, and chicken sandwiches. Soft drinks and French fries are also available. The Planning Department of the restaurant reports that the distribution of daily sales for restaurants follows the normal distribution and that the population standard deviation is $3,000. A sample of 40 showed the mean daily sales to be $20,000. (a) What is the population mean? (b) What is the best estimate of the population mean? What is this value called? (c) Develop a 99 % confidence interval for the population mean. (d) Interpret the confidence interval.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
icon
Related questions
icon
Concept explainers
Topic Video
Question
Plzz give all the answer. And explain it
Fast-food restaurant located in Dubai in half-pound hamburgers, fish sandwiches, and
chicken sandwiches. Soft drinks and French fries are also available. The Planning
Department of the restaurant reports that the distribution of daily sales for restaurants follows
the normal distribution and that the population standard deviation is $3,000. A sample of 40
showed the mean daily sales to be $20,000.
(a) What is the population mean?
(b) What is the best estimate of the population mean? What is this value called?
(c) Develop a 99 % confidence interval for the population mean.
(d) Interpret the confidence interval.
Transcribed Image Text:Fast-food restaurant located in Dubai in half-pound hamburgers, fish sandwiches, and chicken sandwiches. Soft drinks and French fries are also available. The Planning Department of the restaurant reports that the distribution of daily sales for restaurants follows the normal distribution and that the population standard deviation is $3,000. A sample of 40 showed the mean daily sales to be $20,000. (a) What is the population mean? (b) What is the best estimate of the population mean? What is this value called? (c) Develop a 99 % confidence interval for the population mean. (d) Interpret the confidence interval.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill