The Chamber of Commerce in a city wants to estimate the gross profit margin of small businesses (under $500,000 in sales) in their city. A random sample of the year-end statements of 10 small businesses shows the mean gross profit margin to be 5.2% (of sales) with a standard deviation of 7.5%.
a. Construct a 99% confidence interval for the mean gross profit margin
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.