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nathanowens121224
27.07.2021 •
Mathematics
Using a profit P1 of $5,000, a profit P2 of $4,500, and a profit P3 of $4,000, calculate a 95% confidence interval for the mean profit per customer that SoftBus can expect to obtain. (Round your answers to one decimal place.) Lower Limit Upper Limit
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Ответ:
Confidence Interval
Lower Limit = $4,233.3
Upper Limit = $4,766.7
With 95% confidence, the mean profit per customer that SoftBus can expect to obtain is between $4,233.30 and $4,766.7 based on the given sample data.
Step-by-step explanation:
The z-score of 95% = 1.96
Profit Mean Square Root
Difference of MD
P1 $5,000 $500 $250,000
P2 4,500 0 0
P3 4,000 -500 $250,000
Total $13,500 $500,000
Mean $4,500 ($13,500/3) $166,667 ($500,000/3)
Standard Deviation = Square root of $166,667 = 408.2
Margin of error = (z-score * standard deviation)/n
= (1.96 * 408.2)/3
= 266.7
= $266.7
Confidence Interval = Sample mean +/- Margin of error
= $4,500 +/- 266.7
Lower Limit = $4,233.3 ($4,500 - $266.7)
Upper Limit = $4,766.7 ($4,500 + $266.7)
Ответ: