The marketing team at beth's butter works decided they preferred the traditional plastic tub packaging, but they wanted a more refined estimate of potential sales. they launched a third test at a regional level across 100 stores. these 100 stores had average daily sales of 140 units with a standard deviation of 50.
calculate the 99%, 95%, and 68% confidence intervals for the average number of units beth's butter works can anticipate to sell. enter your results in the blanks below.
there is a 99% likelihood that they will sell between and units.
there is a 95% likelihood that they will sell between and units.
there is a 68% likelihood that they will sell between and units.

 a) There is a 99% likelihood that they will sell between 127 and 153 units.

b) There is a 95% likelihood that they will sell between 130 and 150 units.

c) There is a 68% likelihood that they will sell between 135 and 145 units.

Step-by-step explanation:

Given : Sample size : n=  100

Sample mean :

Standard deviation :

a) Significance level :

Critical value:

The formula to find the confidence interval is given by :-

i.e.

i.e.

So, There is a 99% likelihood that they will sell between 127 and 153 units.

b) Significance level :

Critical value:

then, 95% confidence interval will be :

i.e.

i.e.

So, There is a 95% likelihood that they will sell between 130 and 150 units.

c) Significance level :

Critical value:

then, 95% confidence interval will be :

i.e.

i.e.

So, There is a 68% likelihood that they will sell between 135 and 145 units.

step-by-step explanation:

you can add the two numbers and divide the result by 2. or you can find the gap between the two numbers and add half of this to the smaller number.

step-by-step explanation:

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