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Please help me solve this one, our topic is Confidence Interval and attached is the formula to be used.

Please help me solve this one, our topic is Confidence Interval and attached is the formula to be used.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section: Chapter Questions
Problem 8CR
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Please help me solve this one, our topic is Confidence Interval and attached is the formula to be used.

t = s/Vn
Transcribed Image Text:t = s/Vn
Exercise (to be submitted) 8.20 Whole Foods is an all-natural grocery chain that has 50,000 square foot stores, up from the industry average of 34,000 square feet. Sales per square foot of supermarkets average just under $400 per square foot, as reported by USA Today in an article on “A whole new ballgame in grocery shopping." Suppose that sales per square foot in the most recent fiscal year are recorded for a random sample of 10 Whole Foods supermarkets. The data (sales dollars per square foot) are as follows: 854, 858, 801, 892, 849, 807, 894, 863, 829, 815. Using the fact that ī = 846.2 and s = 32.866, find a 95 per- cent confidence interval for the population mean sales dollars per square foot for all Whole Foods supermarkets during the most recent fiscal year. Are we 95 percent confident that this mean is greater than $800, the historical average for Whole Foods? OS WholeFoods Assi
Transcribed Image Text:Exercise (to be submitted) 8.20 Whole Foods is an all-natural grocery chain that has 50,000 square foot stores, up from the industry average of 34,000 square feet. Sales per square foot of supermarkets average just under $400 per square foot, as reported by USA Today in an article on “A whole new ballgame in grocery shopping." Suppose that sales per square foot in the most recent fiscal year are recorded for a random sample of 10 Whole Foods supermarkets. The data (sales dollars per square foot) are as follows: 854, 858, 801, 892, 849, 807, 894, 863, 829, 815. Using the fact that ī = 846.2 and s = 32.866, find a 95 per- cent confidence interval for the population mean sales dollars per square foot for all Whole Foods supermarkets during the most recent fiscal year. Are we 95 percent confident that this mean is greater than $800, the historical average for Whole Foods? OS WholeFoods Assi
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