Find out the estimate of the population mean.the mean daily, Ask an Expert

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Find out the estimate of the population mean.

The mean daily sales at the Stop and Go are $20,000 for a sample of 40 days. The standard deviation of the sample is $3,000.

a. What are the estimated mean daily sales of the population? What is this estimate called?

b. What is the 99 % confidence interval?

c. Interpret your findings.

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