Confidence Intervals.
A hardware retailer has average sales of $64,235 with a standard deviation of $5,918 for a 12-month period. The mean monthly sales for all retailers in the chain are $59,844. Is this hardware retailer’s sales significantly different from all retailers in the chain at ? Are they significantly different at ? Calculate a .95 confidence interval for the data in problem.
Explain your findings and determine what question the confidence interval answers.
Guided Response: Review several of your classmates’ postings. Respond to at least two classmates by commenting on whether or not you think changing the confidence intervals will result in a different outcome. Explain if you agree or not with the role of a confidence interval in the interpretation of the answer
A hardware retailer has average sales of $64,235 with a standard deviation of $5,918 for a 12-month period. The mean monthly sales for all retailers in the chain are $59,844. Is this hardware retailer’s sales significantly different from all retailers in the chain at ? Are they significantly different at ? Calculate a .95 confidence interval for the data in problem.
Explain your findings and determine what question the confidence interval answers.
Guided Response: Review several of your classmates’ postings. Respond to at least two classmates by commenting on whether or not you think changing the confidence intervals will result in a different outcome. Explain if you agree or not with the role of a confidence interval in the interpretation of the answer
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