Question: 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, The Fudge Company and Rocky Mountain Chocolate Factory. Startup costs (in $1000’s) for a random sample of candy stores are shown below:

95 173 129 95 75 94 116 100 85

Use a calculator with mean and sample standard deviation keys to verify that \(\bar{X}=106.9\) and \(s\approx 29.4\). Find the 90% confidence interval for the population average startup cost \(\mu \).

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document