#16 Franchise: Candy Store Do you want to own your own candy store? With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for...

Extracted text: #16 Franchise: Candy Store Do you want to own your own candy store? With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. 95 173 129 95 75 94 116 100 85 (a) Use a calculator with mean and sample standard deviation keys to verify that z 106.9 thousand dollars and s - 29.4 thusand dollars. (b) Find a 90% confidence interval for the population average startup cost µu for candy store franchises. (c) What does the confidence interval mean in the context of this problem?