Sales in December = 10,000*15.90 = $159,000
For 5% forecast growth each month;
Sales in January = (1+0.05)*Sales in December = 1.05*159,000 = $166,950
Sales in February = (1+0.05)*Sales in January = 1.05*166,950 = $175,297.50
The company should budget for $175,297.50 sales in February.
I can answer it but is the “S” supposed to be an integral?
Answer:
a) 95% confidence interval estimate of the true weight is (3.026, 3.274)
b) 99% confidence interval estimate of the true weight is (2.944, 3.356)
Step-by-step explanation:
Confidence Interval can be calculated using M±ME where
- M is the mean of five successive weightings (3.150)
- ME is the margin of error from the mean
And margin of error (ME) can be calculated using the formula
ME=
where
- t is the corresponding statistic in the given confidence level and degrees of freedom(t-score)
- s is the standard deviation of the random error (0.1)
Using the numbers 95% confidence interval estimate of the true weight is:
3.150±
≈3.150±0.124
And 99% confidence interval estimate of the true weight is:
3.150±
≈3.150±0.206