Question

1. a) Suppose average monthly sales for retail locations across the United States are approximately normally...

1. a) Suppose average monthly sales for retail locations across the United States are approximately normally distributed with unknown mean and variance. We’ve taken n= 100 observations and found s^2= 5234.Construct a 95% confidence interval for the population variance σ^2.

b) Using the setup from part a , construct a 95% lower confidence bound for σ^2

c) You frequent a popular fast food restaurant that serves tacos...and they frequently get your order wrong. You decide to do a bit of research, so you miraculously get

a hold of n= 700 orders and realize that 242 of them were wrong. Give a 95%confidence interval for the population proportion of incorrect orders, p.

.

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