Answer:
Confidence Interval
Lower Limit = $4,233.3
Upper Limit = $4,766.7
With 95% certainty, SoftBus can anticipate that the average profit per customer will fall within the range of $4,233.30 to $4,766.7, based on the provided sample data.
Step-by-step explanation:
The z-score corresponding to 95% is 1.96
Profit Mean Square Root
Difference of MD
P1 $5,000 $500 $250,000
P2 4,500 0 0
P3 4,000 -500 $250,000
Total $13,500 $500,000
Mean $4,500 ($13,500/3) $166,667 ($500,000/3)
Standard Deviation = Square root of $166,667 = 408.2
Margin of error = (z-score * standard deviation)/n
= (1.96 * 408.2)/3
= 266.7
= $266.7
Confidence Interval = Sample mean +/- Margin of error
= $4,500 +/- 266.7
Lower Limit = $4,233.3 ($4,500 - $266.7)
Upper Limit = $4,766.7 ($4,500 + $266.7)
