Question

Hoping to lure more shoppers​ downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 44 weekdays, daily fees collected averaged $133, with standard deviation of $12. Complete parts a through e below.

a) What assumptions must you make in order to use these statistics for inference?

Select all that apply:

A. The data values should be dependent.

B. The data are a random sample of all days.

C. The sample size is at least​ 10% of the population.

D. The distribution is unimodal and symmetric with no outliers.

b) Write a 90% confidence interval for the mean daily income this parking garage will generate.

c) Interpret this confidence interval in context

d) Explane what a "90% Confidence" means in this context.

e) The consultant who advised the city on this project predicted that parking revenues would average $130 per day. Based on your confidence interval, do you think the consultant was correct? Why?

Answer 1