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Problem: Whole Foods is an all-natural grocery store chain. A random sample of 10 stores was...

Problem: Whole Foods is an all-natural grocery store chain. A random sample of 10 stores was taken and the average, x̄, sales per square foot is $846.20 and the sample standard deviation, s is $32.866.

a. Should a z-based or t-based confidence interval be used?

b. Find a 95 percent confidence interval for the population mean sales dollars per square foot for all Whole Foods supermarkets.

c. Historically, Whole Foods sells on average $800 per square foot. Are we 95 percent confident that this mean is greater than the $800 historical average?

Math   Statistics-And-Probability   
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