Question: Suppose a fast-food restaurant wishes to estimate average sales volume for a new menu item. The restaurant has observed the sales of the item at a similar outlet and has determined the following results:

X= 500 (mean daily sales)

S = 100 (standard deviation of sample)

n = 25 (sample size)

The restaurant manager wants to know into what range the mean daily sales would fall 95 percent of the time. Perform this calculation.

Price: $2.99

Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document