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Find the approximation of the population mean.

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

1) What is the estimated mean daily sales of the population? What is this estimate called?

2) What is the 99 % confidence interval?

3) Interpret your findings.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M921161

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