Please provide solutions to the following problems. Please use
Excel to solve the problems and submit...
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Please provide solutions to the following problems. Please useExcel to solve the problems and submit theExcel spreadsheet.
You started a new restaurant. Based on invoices forthe first 30 days, you estimated your average grocery bill to be$20,000 with a standard deviation of $2000. You want to startanother restaurant in a similar neighborhood and you are planningto prepare a brochure for investors and to work out a deal with awhole sale food distributor. Prepare a 95% confidence interval forthe average grocery bill. Would a 99% confidence interval benarrower or wider than the 95% confidenceinterval?
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