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Estimate the population mean number of children books

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Reference no: EM132757851

One year ago a book store called A Likely Story expanded its stock to include children's books. In a review of this expansion, the owner of A Likely Story would like to know how many children's books are sold on average each day. He randomly selected 45 days from the past year and counted the number of books sold on those particular days. The sample average was found to be 28.3 books, with a standard deviation of 4.1.

(a) Construct and interpret a 99% confidence interval to estimate the population mean number of children's books sold per day at A Likely Story.

(b) Assuming a 99% level of confidence, what sample size would be required to achieve a margin of error of 0.5 for average number of books?

Reference no: EM132757851

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