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Question 8 (16 points) Listen ? Saved You are thinking of buying a branch of Chick-fil-A, but are wondering how much income you can make. You randomly survey of 70 other Chick-fil-A stores to determine their yearly net profit. In the survey, the average yearly net profit is \$83,238 with a standard deviation of \$10,124. a. (2 pt) The technical conditions for constructing a confidence interval have been met. Explain why by referencing the appropriate Central Limit Theorem. b. (3 pt) Construct a 95\% confidence interval for the average yearly net profit. You may round to the nearest dollar. c. (2 pt) You have a goal of making \$85,000/year off his new store. Does your confidence interval lead you to believe it is possible that the average store makes \$85,000? Explain by referencing the confidence interval constructed in part b.

          Question 8 (16 points)
Listen
? Saved
You are thinking of buying a branch of Chick-fil-A, but are wondering how much
income you can make. You randomly survey of 70 other Chick-fil-A stores to
determine their yearly net profit. In the survey, the average yearly net profit is
\$83,238 with a standard deviation of \$10,124.
a. (2 pt) The technical conditions for constructing a confidence interval have been
met. Explain why by referencing the appropriate Central Limit Theorem.
b. (3 pt) Construct a 95\% confidence interval for the average yearly net profit. You
may round to the nearest dollar.
c. (2 pt) You have a goal of making \$85,000/year off his new store. Does your
confidence interval lead you to believe it is possible that the average store makes
\$85,000? Explain by referencing the confidence interval constructed in part b.

Question 8 (16 points)
Listen
? Saved
You are thinking of buying a branch of Chick-fil-A, but are wondering how much
income you can make. You randomly survey of 70 other Chick-fil-A stores to
determine their yearly net profit. In the survey, the average yearly net profit is
$83,238 with a standard deviation of $10,124.
a. (2 pt) The technical conditions for constructing a confidence interval have been
met. Explain why by referencing the appropriate Central Limit Theorem.
b. (3 pt) Construct a 95% confidence interval for the average yearly net profit. You
may round to the nearest dollar.
c. (2 pt) You have a goal of making $85,000/year off his new store. Does your
confidence interval lead you to believe it is possible that the average store makes
$85,000? Explain by referencing the confidence interval constructed in part b.

Added by Shannon W.

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