Question: A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks to their clients. A sample of the sales for 36 days revealed average daily sales of $200,000. Assume that the standard deviation of the population is known to be $18,000.
a. Provide a 95% confidence interval estimate for the average daily sale.
b. Provide a 97% confidence interval estimate for the average daily sale.