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Author Question: A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks to ... (Read 85 times)

jmoore1989

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on: Mar 25, 2023

Question 1

A simple random sample of 36 items resulted in a sample mean of 40 and a standard deviation of 12. Construct a 95% confidence interval for the population mean.



Question 2

A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks to their clients. A sample of the sales for 36 days revealed average daily sales of $200,000. Assume that the standard deviation of the population is known to be $18,000.

a.Provide a 95% confidence interval estimate for the average daily sale.
b.Provide a 97% confidence interval estimate for the average daily sale.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by jmoore1989 on Mar 25, 2023

viper01

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Reply #1 on: Mar 25, 2023
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jmoore1989

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Reply 2 on: Mar 25, 2023
Great answer, keep it coming :)

meow1234

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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