A ski shop manager claims that the average of the sales for her/his shop is $1800 a day during the w
Question: A ski shop manager claims that the average of the sales for her/his shop is $1800 a day during the winter months. Ten winter days are selected at random, and the mean of the sales is $1830. The standard deviation of the population is $200. Can one reject the claim at α = 0.05? Find the 95% confidence interval of the mean. Does the confidence interval interpretation agree with the hypothesis test results? Explain. Assume that the variable is normally distributed.
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Solution Format: Word Document
Solution Format: Word Document