Suppose you are trying to determine the number of boxes you needto order to be able to ship the orders from your small businessthis week. You consistently over- or underestimate how many youneed, so you decide to figure it out with statistics! You take asample of data you’ve recorded from past orders.
Consider a sample with the following properties: xÌ… = 893.6, s =63.2, n = 48
A) Why might you prefer an interval estimate over a pointestimate?
B) Calculate a confidence interval with a confidence level of95%
C) Interpret your results from part B.
D) Calculate a confidence interval with a confidence level of99%
E) Why is the 99% confidence interval wider than the 95% confidenceinterval?
