Sample findings-estimate the true mean

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Reference no: EM1320790

A Wendy's franchise has been averaging about $5000 worth of business on a typical Saturday with a standard deviation of σ = $500. The manager is concerned that sales are slipping, after taking into account the average value of sales for four consecutive Saturdays being $4800.

Based on the sample findings, estimate the true mean of Saturday sales with 90% probability.

Reference no: EM1320790

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