a. A research survey found that the range of restaurants' profit margins may span between 0% and 15%, and usually restaurants have an average profit margin of 3% to 5%. A restaurant's success is not wholly dependent on the food or drinks it serves, but rather its profit margin is also impacted by a host of other factors like the average cost per customer, type of restaurant operation, among other things. The profit margin data (in percentage) of 13 selected restaurants are 2.3 1.8 2.3 2.5 1.6 5.5 Construct a 98% confidence interval for the true profit margin. 2.7 6.1 4.8 4.2 4.8 1.9 3.5

a. A research survey found that the range of restaurants' profit margins may span between 0% and 15%, and usually restaurants have an average profit margin of 3% to 5%. A restaurant's success is not wholly dependent on the food or drinks it serves, but rather its profit margin is also impacted by a host of other factors like the average cost per customer, type of restaurant operation, among other things. The profit margin data (in percentage) of 13 selected restaurants are 2.3 1.8 2.3 2.5 1.6 5.5 Construct a 98% confidence interval for the true profit margin. 2.7 6.1 4.8 4.2 4.8 1.9 3.5

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.2: Representing Data

Problem 22PFA

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