Solutions Statistics

In order to estimate the difference between the average daily sales of two branches of a department

Question: In order to estimate the difference between the average daily sales of two branches of a department store, the following data has been gathered.

			Downtown Store	North Mall Store
		Sample size	n1 = 23 days	n2 = 26 days
		Sample mean (in $1,000)	= 37	= 34
		Sample standard deviation (in $1,000)	S1 = 4	S2 = 5
a.	Determine the point estimate of the difference between the means.
b.	Determine the degrees of freedom for this interval estimation.
c.	Compute the margin of error.
d.	Develop a 95% confidence interval for the difference between the two population means.