Hoping to lure more shoppers downtown a city builds a new pu

Hoping to lure more shoppers downtown, a city builds a new public parking garage in the central business district. The city plans to pay for the structure through parking fees. For a random sample of 42 weekdays, daily fees collected averaged $131, with standard deviation of $15. Complete parts a through e below. What assumptions must you make in order to use these statistics for inference? Select all that apply. The data values should be dependent. The sample size is at least 10% of the population. The distribution is unimodal and symmetric with no outliers. The data are a random sample of all days. Find a 90% confidence interval for the mean daily income this parking garage will generate. The 90% confidence interval for the mean daily income is ($| |,$| |). (Round to two decimal places as needed.) Explain in context what this confidence interval means. Choose the correct answer below.

Solution

Ans:

a)Option C and D are correct.

b)n=42

df=42-1=41

critical t value=tinv(0.1,41)=1.683

90% confidence interval for true mean

=131+/-1.683*(15/sqrt(41))

=131+/-3.90

=(127.10, 134.90)

c)Option C is correct.

d)Option B is correct.

e)does not contain the perdicted average,so perdiction is not accurate.