The marketing team at Beth’s Butter Works decided they preferred the traditional plastic tub packaging, but they wanted a more refined estimate of potential sales. They launched a third test at a regional level 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 Beth’s Butter Works can anticipate to sell. Enter your results in the blanks below.
There is a 99% likelihood that they will sell between and units.
There is a 95% likelihood that they will sell between and units.
There is a 68% likelihood that they will sell between and units.
