1. In a sample of 50 wine tasting rooms, the average amount of daily sales totals $3823 with a population standard deviation of $374 per day. a) Find the margin of error for the population mean amount...

1. In a sample of 50 wine tasting rooms, the average amount of daily sales totals $3823 with a<br>population standard deviation of $374 per day.<br>a) Find the margin of error for the population mean amount of daily sales using a 95% level of<br>confidence.<br>b) Find a 95% confidence interval for the mean amount of daily sales.<br>c) Find a 90% confidence interval for the mean amount of daily sales.<br>d) Which confidence interval is wider?<br>

Extracted text: 1. In a sample of 50 wine tasting rooms, the average amount of daily sales totals $3823 with a population standard deviation of $374 per day. a) Find the margin of error for the population mean amount of daily sales using a 95% level of confidence. b) Find a 95% confidence interval for the mean amount of daily sales. c) Find a 90% confidence interval for the mean amount of daily sales. d) Which confidence interval is wider?

Jun 01, 2022

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1. In a sample of 50 wine tasting rooms, the average amount of daily sales totals $3823 with a population standard deviation of $374 per day. a) Find the margin of error for the population mean amount...

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