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SE=std error/sqrt(sample size)
So in this case:
SE = 50/sqrt(100)
SE = 50/10
SE = 5
The company wants an estimate of potential sales. They launched a test 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 anticipated to sell.
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