Statistics: (Please show steps)
Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of xvalues has an approximately normal distribution.93 178 134 93 75 94 116 100 85
(a) Use a calculator with mean and sample standard deviation keys to find the sample mean startup cost x and sample standard deviation
(Round your answers to one decimal place.)
x = thousand dollars
s= thousand dollars
(b) Find a 90% confidence interval for the population average startup costs μ for candy store franchises. (Round your answers to one decimal place.)
lower limit thousand dollars
upper limit thousand