Question

Fresh!Now! is a chain of grocery stores in the United States with 1839 grocery stores in...

Fresh!Now! is a chain of grocery stores in the United States with 1839 grocery stores in total, some of which also sell bakery goods and freshly made food-to-go. Fresh!Now!’s goal is to provide good quality fresh vegetables at affordable prices. However, given the existing market of organic food supplies, Fresh!Now! is facing tremendous competition. They realize that Fresh!Now! has to make their stores more attractive to customers.

In 19 stores across Massachusetts and New York, they have implemented a new concept to present the vegetables in the stores and have collected information of the average daily profit of leafy vegetables (in dollar) per customer per store (see table below). Janine, the head of the analytics department at Fresh!Now!, has tasked you with developing an anlaysis to better understand if the new concept has any effect.

Store
MA 1
MA 2
MA 3
MA 4
MA 5
MA 6
MA 7
MA 8
MA 9
NY 1
NY 2
NY 3
NY 4
NY 5
NY 6
NY 7
NY 8
NY 9
NY 10
Profit in dollar per customer per store
16.09
16.84
11.03
14.67
14.63
16.27
16.28
13.99
12.33
15.48
16.99
15.02
16.99
15.02
18.96
13.92
15.25
12.48
16.39

Your first task it to create a 95% confidence interval for the mean of the dataset using the sample collected from Massachusetts and New York.

What is the upper limit of this confidence interval?

What is the lower limit of this confidence interval?

Math   Statistics-And-Probability   
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Answer #1

Lower limit is 14.3

Upper limit is 16

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