A local grocer wants to find out whether how many mixed flower bouquets in his inventory everyday. To that end, kept records of
the daily bouquet sales for the last 27 days. The average number of bouquets sold every day was 11.8 and the sample standard deviation is 2.3. Construct a 99% confidence interval for the number of bouquets sold on a given day..
Given: n = 27, sample size df = n-1 = 26, degrees of freedom xb = 11.8, sample mean s = 2.3, sample standard deviation.
Because population statistics are not known, we should use the Student's t-distribution. At 99% confidence interval, the t-value = 2.779 (from tables). The confidence interval is 11.8 +/- 2.779*(2.3/√(27)) = 11.8 +/- 1.23 = (10.57, 13.03)
