A sample of the sales at 50 Haute Dog restaurants is taken and the sample mean i

ID: 3130714 • Letter: A

Question

A sample of the sales at 50 Haute Dog restaurants is taken and the sample mean is $30,000 per day

with a sample standard deviation of $2000. The population standard deviation is not known.

What is the probability that the average sales are really $32,000 or more per day?

Assume that the population average is $30,000 per day and the std. Deviation is $2k. How do I solve using excel?

A sample of the sales at 50 Haute Dog restaurants is taken and the sample mean is $30,000 per day

with a sample standard deviation of $2000. The population standard deviation is not known.

What is the probability that the average sales are really $32,000 or more per day?

Assume that the population average is $30,000 per day and the std. Deviation is $2k. How do I solve using excel?

Using NORMDIST(32000,30000,2000,FALSE) in excel

(1) P( x=32000) = 0.000121 . Now for P(x>=32000) = 0.5-0.000121 = 0.499879.

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