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Suppose a fast food restaurant wishes to estimate average

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Suppose a fast food restaurant wishes to estimate average sales volume for a new menu item. The restaurant has analyzed the sales of the items at a similar outlet and observed the following results:

X = 500 (mean daily sales)
S = 100 (standard deviation of sample)
n = 25 (sample size)

The restaurant manager wants to know into what range the mean daily sales should fall 95 percent of the time. Perform this calculation.

Reference no: EM13580347

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