Question

1. 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 42 ​weekdays, daily fees collected averaged ​$133​, with standard deviation of $16.

​- Find a 95​% confidence interval for the mean daily income this parking garage will generate.

The 95​% confidence interval for the mean daily income is

2. A grocery​ store's receipts show that Sunday customer purchases have a skewed distribution with a mean of ​$34 and a standard deviation of $24. Suppose the store had 322 customers this Sunday.

​a) Estimate the probability that the​ store's revenues were at least ​$11,200.

​b) If, on a typical​ Sunday, the store serves 322 ​customers, how much does the store take in on the worst 1​% of such​ days?

Answer 1