Do you want to own your own candy store? Wow! With some interestin running your own business and a decent credit rating, you canprobably get a bank loan on startup costs for franchises such asCandy Express, The Fudge Company, Karmel Corn, and Rocky MountainChocolate Factory. Startup costs (in thousands of dollars) for arandom sample of candy stores are given below. Assume that thepopulation of x values has an approximately normaldistribution.
(a) Use a calculator with mean and sample standard deviationkeys to find the sample mean startup cost x and samplestandard deviation s. (Round your answers to one decimalplace.)
| x = | thousand dollars |
| s = | thousand dollars |
(b) Find a 90% confidence interval for the population averagestartup costs μ for candy store franchises. (Round youranswers to one decimal place.)
| lower limit    | thousand dollars |
| upper limit    | thousand dollars |
